In recent times we have seen financial uncertainty for the insurance industry with well-established companies now filing as bankrupt. How do you know that you will be protected if your insurance company fails and/or declares bankruptcy? Property and Casualty Insurance Compensation Corporation (PACICC) is a special program that is funded by Canadian property and Casualty companies in the event that an insurance company fails.

This non-profit organization protects you, the policy holder in the event of a claim, even if your insurance company has gone out of business during the policy term.