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Backstop on insurance needed from catastrophe risk: OSFI head

By Financial Post - 10 months ago
TORONTO — It’s important to develop a backstop for the insurance industry against major catastrophes like an earthquake, said the head of Canada’s financial institutions regulator Tuesday. A major disaster like an earthquake in Vancouver could cause between $35 billion and $40 billion in damages and significantly strain the insurance system, said Superintendent of Financial […]

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