Property and Casualty Insurance Compensation Corporation

📍 Toronto, Canada🗓 Founded 1989👥 10 employees💰 Last funded Apr 2022
Insurance🌐 pacicc.ca
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For well over a century, hundreds of competing property and casualty insurance companies in Canada have honoured millions of claims – amounting to billions of dollars – promptly, and in full. Insurance company failures, although rare, can and do occur. That’s why Canada’s property and casualty (P&C) insurance companies fund a special program, approved by government regulators, to protect policyholders and claimants. In the unlikely event of the collapse of a P&C insurer in Canada, the industry-funded, non-profit Property and Casualty Insurance Compensation Corporation (PACICC) will respond to claims of policyholders under most policies issued by P&C companies. You don’t need to apply for protection; it is extended automatically to eligible policies. Members of PACICC are the private companies which insure the homes, cars, business and other property of Canadians. As part of its preparedness, PACICC maintains a liquidity fund that is sufficient to cover the early cash flow requirements of an insolvent insurer. PACICC’s mission is to protect eligible policyholders from undue financial loss in the event that a member insurer becomes insolvent. We work to minimize the costs of insurer insolvencies and seek to maintain a high level of consumer and business confidence in Canada’s property and casualty insurance industry through the financial protection we provide to policyholders.
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1989
Founded

Investors

1 investors
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Investor geography1 country
Canada
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Frequently asked questions
Who invested in Property and Casualty Insurance Compensation Corporation?
Property and Casualty Insurance Compensation Corporation has 1 investors on record on gritt.io.
When did Property and Casualty Insurance Compensation Corporation last raise funding?
The most recent investment in Property and Casualty Insurance Compensation Corporation recorded on gritt.io was in April 2022.
When was Property and Casualty Insurance Compensation Corporation founded?
Property and Casualty Insurance Compensation Corporation was founded in 1989.
What industry is Property and Casualty Insurance Compensation Corporation in?
Property and Casualty Insurance Compensation Corporation operates in Insurance. Find similar Insurance investors on gritt.io.
Where is Property and Casualty Insurance Compensation Corporation based?
Property and Casualty Insurance Compensation Corporation is headquartered in Toronto, Canada.