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PACICC

Full company profile

uuid000vw1p

Namestring
PACICC
Legal namestring
Property and Casualty Insurance Compensation Corporation
Websiteurl
pacicc.ca
Company typeenum
Private
Founded yearint
1989
Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1–10
akta.pro rankint
HeadquartersToronto, Canada
HQ citystring
Toronto
HQ countrystring
Canada
HQ regionstring
North America
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
insurance guarantee fund, policyholder protection, insurer insolvency coverage, property casualty insurance, industry solvency research
Industry1 code
PRIMARYFSAEAKAB
Corporate Trust Services (Trustee, Agent & Escrow Roles)
Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Fiduciary, Trust & Estate Advisory
NAICS code2 codes
  • Agencies, Brokerages, and Other Insurance Related Activities5242
  • Insurance and Employee Benefit Funds5251
SIC code1 code
  • Surety Insurance6351
Product category
Insurance Guarantee Fund
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Member Insurer Levies and Assessments
TypeSubscription Recurring
Description

PACICC is funded by participating P&C insurance companies through small levies that cover operating costs. In the event of an insolvency, member insurers are assessed for their share of the costs involved. PACICC maintains a liquidity fund sufficient to cover early cash flow requirements for liquidation of an insolvent insurer.

pacicc.ca
Marketing channels7 records

Each record includes

Title, Type, Stage, Description, Source

Distribution channels2 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components3 values
Personnel, Operations, Others
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

PACICC operates Canada's industry-funded, not-for-profit guarantee fund for property and casualty insurance policyholders. In the unlikely event that a member P&C insurer becomes insolvent, PACICC pays valid claims up to coverage limits (up to $545,000 for personal property) and provides 70 percent refunds of unearned premiums (up to $1,750 per policy). Coverage is automatic and requires no application, extending to policies representing more than 95 percent of all P&C premiums paid in Canada.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

PACICC (Property and Casualty Insurance Compensation Corporation) is an industry-funded, not-for-profit guarantee fund that protects Canadian policyholders from financial loss in the unlikely event of a P&C insurer insolvency. Rather than a traditional product company, PACICC provides policyholder protection services including claims coverage up to established limits, premium refund assistance, and industry research. PACICC's coverage applies automatically to eligible policyholders of member insurers covering over 95% of all P&C premiums paid in Canada. The organization's key offerings include policyholder protection coverage (with limits up to $545,000 for personal property), premium refund services (70% of unearned premiums), research publications including the Global Failed Insurer Catalogue and Why Insurers Fail studies, and industry education through the Risk Officer's Forum and Emerging Risks Webinars.

Product and service1 record
1Policyholder Protection Coverage
CategoryInsurance guarantee fund / core service
Description

Automatic guarantee fund coverage that protects eligible Canadian policyholders from financial loss when a member P&C insurer becomes insolvent. PACICC pays valid claims up to established limits (up to $545,000 for personal property lines) and provides a 70 percent refund of unearned (unexpired) premiums, up to a maximum refund of $1,750 per policy. Coverage applies automatically to policies representing more than 95 percent of all P&C premiums paid in Canada, with no application required.

Scale indicator5 records

Each record includes

Type, Value, Description, Source

Partnership4 partners
1International Forum of Insurance Guarantee Schemes (IFIGS)
Strategic tierCoreTypeStrategic or Co-development Partner
Description

PACICC is an active member of IFIGS. Alister Campbell served as Chair of IFIGS in 2020. IFIGS brings together insurance guarantee schemes from around the world to share best practices and develop standards for policyholder protection.

pacicc.ca
2Insurance Brokers Association of Canada (IBAC)
Strategic tierCoreTypeStrategic or Co-development Partner
Description

PACICC has agreed to work with IBAC to distribute appropriate information to brokers as quickly as possible in the event of an insurer insolvency. This information is also posted on PACICC and IBAC websites.

pacicc.ca
3Insurance Bureau of Canada (IBC)
Strategic tierModerateTypeStrategic or Co-development Partner
Description

PACICC coordinates with IBC on industry matters. Alister Campbell previously served as Deputy Chair of IBC Board.

4Office of the Superintendent of Financial Institutions (OSFI)
Strategic tierCoreTypeOthers
Description

Federal regulator of federally regulated P&C insurance companies. PACICC coordinates with OSFI on supervision and intervention guidelines for federally regulated insurers. OSFI is referenced as the supervisory authority for past insolvencies.

Expansion highlight4 records

Each record includes

Type, Description

Market position
Competitive moat4 records

Each record includes

Type, Details

Key risks5 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Named customers1 record

Each record includes

Name, Industry, Type, Use case, Source, UUID

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile2 records

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles9 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

PACICC

Insurance Guarantee Fundpacicc.ca

PACICC firmographics

Firmographics
Name
PACICC
Legal name
Property and Casualty Insurance Compensation Corporation
Website
https://pacicc.ca
Company type
Private
Founded year
1989
Operating status
Operating
Headcount range
1–10 employees
Ownership category
akta.pro rank

PACICC industry classification

Industry
Product category
Insurance Guarantee Fund
NAICS
Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance and Employee Benefit Funds (5251)
SIC
Surety Insurance (6351)
akta.pro industry
PRIMARYFSAEAKAB
Corporate Trust Services (Trustee, Agent & Escrow Roles)
Financial & Insurance/Financial Advisory, Brokerage & Intermediation/Fiduciary, Trust & Estate Advisory

Keywords

  • Insurance guarantee fund
  • Policyholder protection
  • Insurer insolvency coverage
  • Property casualty insurance
  • Industry solvency research

Where PACICC is headquartered

Location

Headquarters

HQ city
Toronto
HQ country
Canada
HQ region
North America

Offices1 record

Markets served

PACICC business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Personnel, Operations, Others

Revenue model

  1. Member Insurer Levies and Assessments: PACICC is funded by participating P&C insurance companies through small levies that cover operating costs. In the event of an insolvency, member insurers are assessed for their share of the costs involved. PACICC maintains a liquidity fund sufficient to cover early cash flow requirements for liquidation of an insolvent insurer.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels7 records

PACICC product offering

Product offering

Core offering

PACICC operates Canada's industry-funded, not-for-profit guarantee fund for property and casualty insurance policyholders. In the unlikely event that a member P&C insurer becomes insolvent, PACICC pays valid claims up to coverage limits (up to $545,000 for personal property) and provides 70 percent refunds of unearned premiums (up to $1,750 per policy). Coverage is automatic and requires no application, extending to policies representing more than 95 percent of all P&C premiums paid in Canada.

Product overview

PACICC (Property and Casualty Insurance Compensation Corporation) is an industry-funded, not-for-profit guarantee fund that protects Canadian policyholders from financial loss in the unlikely event of a P&C insurer insolvency. Rather than a traditional product company, PACICC provides policyholder protection services including claims coverage up to established limits, premium refund assistance, and industry research. PACICC's coverage applies automatically to eligible policyholders of member insurers covering over 95% of all P&C premiums paid in Canada. The organization's key offerings include policyholder protection coverage (with limits up to $545,000 for personal property), premium refund services (70% of unearned premiums), research publications including the Global Failed Insurer Catalogue and Why Insurers Fail studies, and industry education through the Risk Officer's Forum and Emerging Risks Webinars.

Differentiator

Problem solved

Functional benefit

Products and services

  • Policyholder Protection Coverage Automatic guarantee fund coverage that protects eligible Canadian policyholders from financial loss when a member P&C insurer becomes insolvent. PACICC pays valid claims up to established limits (up to $545,000 for personal property lines) and provides a 70 percent refund of unearned (unexpired) premiums, up to a maximum refund of $1,750 per policy. Coverage applies automatically to policies representing more than 95 percent of all P&C premiums paid in Canada, with no application required.

Companies that use PACICC

Customer profile

Named customers1 record

Segments2 records

Ideal customer profiles2 records

PACICC technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

PACICC partnerships and signals

Strategic signal

Partnerships

Four partnerships are on record, tiered core and moderate.

  • International Forum of Insurance Guarantee Schemes (IFIGS)coreStrategic or Co-development PartnerPACICC is an active member of IFIGS. Alister Campbell served as Chair of IFIGS in 2020. IFIGS brings together insurance guarantee schemes from around the world to share best practices and develop standards for policyholder protection.
  • Insurance Brokers Association of Canada (IBAC)coreStrategic or Co-development PartnerPACICC has agreed to work with IBAC to distribute appropriate information to brokers as quickly as possible in the event of an insurer insolvency. This information is also posted on PACICC and IBAC websites.
  • Insurance Bureau of Canada (IBC)moderateStrategic or Co-development PartnerPACICC coordinates with IBC on industry matters. Alister Campbell previously served as Deputy Chair of IBC Board.
  • Office of the Superintendent of Financial Institutions (OSFI)coreOthersFederal regulator of federally regulated P&C insurance companies. PACICC coordinates with OSFI on supervision and intervention guidelines for federally regulated insurers. OSFI is referenced as the supervisory authority for past insolvencies.

Scale indicators5 records

Expansion highlights4 records

PACICC competitors and assessment

Company assessment

Market position

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

PACICC social profiles

Digital presence

PACICC financial estimates

Financial estimate

Revenue estimate

Valuation estimate

PACICC leadership team

Management profile

Number of profiles

Profiles9 records

PACICC funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

PACICC M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PACICC

What does PACICC do?

PACICC operates Canada's industry-funded, not-for-profit guarantee fund for property and casualty insurance policyholders. In the unlikely event that a member P&C insurer becomes insolvent, PACICC pays valid claims up to coverage limits (up to $545,000 for personal property) and provides 70 percent refunds of unearned premiums (up to $1,750 per policy). Coverage is automatic and requires no application, extending to policies representing more than 95 percent of all P&C premiums paid in Canada.

Is PACICC a public or private company?

PACICC is a private company. It is classified as nonprofit foundation owned and is currently operating.

When was PACICC founded?

PACICC was founded in 1989. It employs 1 to 10 people.

Where is PACICC based?

PACICC is headquartered in Toronto, Canada, in the North America region.

How does PACICC make money?

One revenue line is on record: member Insurer Levies and Assessments.

Does PACICC have an API?

No public API is recorded for PACICC.

What industry is PACICC in?

PACICC's product category is Insurance Guarantee Fund. Its primary akta.pro industry code is FSAEAKAB, Corporate Trust Services (Trustee, Agent & Escrow Roles). Its NAICS code is 5242 and its SIC code is 6351.

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