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Canada Insurance Market Rates

The Global Insurance Market Index (GIMI) is our proprietary measure of commercial insurance rate changes at renewal. Below are insights into the Canadian insurance market.

Q1 2026

Canada insurance rates decline across major product lines

Insurance rates in Canada declined 6% in the first quarter, compared to a 7% decline in the prior quarter.

Canada composite insurance rate change

Canada property

Property insurance rates decline, with high levels of competition

Property insurance rates declined 6%.

Surplus capacity and strong insurer appetite resulted in high levels of competition.
Most quota-share placements were over-subscribed, contributing to greater concurrency of key deductibles and sub-limits.
Reinsurance renewals for January 1, 2026, typically showed expanded capacity and insured losses well below the five-year average.
Insurers relaxed policy conditions to secure business, broadening terms to offset downward rate pressure.
Access to facilities helped clients seeking to improve terms and/or costs.
Clients redeployed premium savings in some cases to purchase additional limits or lower retentions, drawing on excess capacity and facility access to improve programme structure and reduce cost.

Canada casualty

Casualty rates continue to decline, focus on PFAS increases

Overall casualty insurance rates decreased 5%, the 11th consecutive quarter of declines.

Clients with Canada-specific exposures seen as good risks by insurers typically benefitted from expanded capacity and price competition.
US-exposed and more complex risks faced selective rate increases, at times into double digits.
- US auto liability underwriting tightened, with higher attachments, corridor/shared loss structures, and telematics requirements.
- Specialty capacity remained selective, especially for US-exposed and loss-impacted risks.
Reinsurers emphasised limit management, higher attachments, and reduced line sizes for accumulation risks.
Underwriting scrutiny increased, with a focus on higher attachments, sublimits, and/or per- and polyfluoroalkyl substances (PFAS) and pollution wordings.
- Underwriters scrutinised PFAS and wildfire risks, at times using exclusions, sublimits, and mitigation-linked pricing.
- Some clients emphasised fleet safety, telematics data use, and wildfire mitigation to improve terms and renewability.
Some clients used premium saving to purchase additional casualty tower capacity.

Canada financial and professional lines

Financial and professional lines rates decline

Financial and professional lines rates declined 6%.

Rates for directors and officers (D&O) liability coverage experienced a low single-digit decrease.
Rate reductions persisted in some programmes layers; insurers generally resisted further decreases.
Rising fiduciary litigation tied to health and welfare plans is being watched, though without material impacts to underwriting or rates to date.
Employment practices liability (EPL) rates and exposures remained stable.

Cyber rates decline, capacity increases

Cyber insurance rates decreased 5%.

Insurer capacity expanded across excess and primary layers, including from new market entrants, increasing competition.
Coverage expansion continued, with fewer coinsurance requirements and broader sub-limited enhancements.
Organisations with strong cyber controls were well-positioned to negotiate lower retentions, broaden coverage, and capture excess-layer savings.

Our rates reflect the segment mix of Marsh’s client portfolio.

Global Insurance Market Index

04/22/2026

The Global Insurance Market Index (GIMI) is our proprietary measure of global commercial insurance rate change at renewal — providing insights into the world's major insurance markets.

Aerial view of the Bay Bridge in San Francisco, CA

Global Insurance Market Index

US insurance rates

04/22/2026

Insurance rates decreased in the US in the first quarter.

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

04/22/2026

Insurance rates in the UK declined 8% in the first quarter.

Global Insurance Market Index

Latin America and Caribbean insurance rates

Insurance rates in the region decreased 8% in the first quarter.

Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 5% in the first quarter.

Beautiful aerial view of the Sydney Opera house by the bay in Australia. Panoramic view.

Global Insurance Market Index

Pacific insurance rates

Insurance rates in the Pacific region declined 12% in the first quarter.

Global Insurance Market Index

Asia insurance rates

Insurance rates in Asia declined 5% in the first quarter.

Skyscrapers in Abu Dhabi, United Arab Emirates.

Global Insurance Market Index

India, Middle East, and Africa insurance rates

22/04/2026

Insurance rates in the first quarter decreased 10% in the IMEA region.

This publication is not intended to be taken as advice regarding any individual situation and should not be relied upon as such. The information contained herein is based on sources we believe reliable, but we make no representation or warranty as to its accuracy. Marsh shall have no obligation to update this publication and shall have no liability to you or any other party arising out of this publication or any matter contained herein. Any statements concerning actuarial, tax, accounting, or legal matters are based solely on our experience as insurance brokers and risk consultants and are not to be relied upon as actuarial, accounting, tax, or legal advice, for which you should consult your own professional advisors. Any modelling, analytics, or projections are subject to inherent uncertainty, and any analysis could be materially affected if any underlying assumptions, conditions, information, or factors are inaccurate or incomplete or should change.

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Canada Insurance Market Rates