The Financial Post reports in its Saturday, Nov. 25, edition that a big earthquake in Canada could wipe out a large swath of the country's $232-billion property and casualty insurance industry. The Post's Barbara Shecter writes that no concrete action has been taken to bolster the system. University of Calgary's Haskayne School of Business risk management professor Anne Kleffner says Canada is the only G7 nation without a way for government and financial regulators to intervene to keep insurers solvent -- or at least steady enough to work through an orderly wind-down -- in the case of a once-in-a-lifetime catastrophe. Despite many warnings little has changed for Canada's system for insurers. These include a 2016 report penned by former bank director Nick Le Pan, which warned that without a government backstop arrangement for Canada's property and casualty insurers, a chain of events from a major natural catastrophe would send fissures through the financial system and across the entire Canadian economy. Mr. Le Pan, who served as a director of Canadian Imperial Bank of Commerce until his retirement this year, figures that 40 per cent of Canadians live in areas classified as "moderate" or "high" risk.