Canada Insurance Market Report 2015
Insurance markets in Canada were characterized by mostly stable rates across industries and coverage lines in 2014.
Overall, it was still very much a 'buyers' market' in Canada in 2014, with an inconsistent overall approach to general property and casualty business across the country.
Insurance markets in Canada were characterized by mostly stable rates across industries and coverage lines in 2014, according to the Canada Insurance Market Report 2015. This trend is expected to continue in 2015.
Other key findings from the report:
- The property and casualty insurance market should remain stable in 2015 with some moderate rate decreases possible.
- New capacity from new entrants into the directors and officers (D&O) insurance market is expected to drive competition in 2015.
- While the market for cyber insurance remained stable in 2014, demand for cyber coverage is expected to increase in 2015, with companies seeking higher limits.
- Among the specialty coverage lines, rates are generally stable for environmental, small and midsize businesses, and trade credit, with downward pressure on rates expected in aviation, energy, marine, and political risk and terrorism.