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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.

Q2 2026

Canada insurance rates decline, led by property

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

Canada composite insurance rate change

Canada property

Property insurance rates decline amid growing capacity

Property insurance rates declined 8%, the ninth consecutive quarter of rate declines.

Increased capacity and lower reinsurance costs contributed to high levels of competition across sectors and geographies.
Some larger accounts saw double-digit decreases, though risks with loss histories viewed less favorably by insurers or less detailed submissions saw less favorable outcomes.
Many insurers relaxed policy conditions and broadened terms.
A major natural catastrophe that exceeds expectations could result in a tightening of capacity and a slowing of rate declines.
Many clients reinvested premium savings to increase limits or reduce retentions.

Canada casualty

Casualty rates decline; underwriting scrutiny continues

Overall casualty insurance rates decreased 4%, compared to 5% in the prior quarter.

Clients with Canada-specific exposures seen as good risks by insurers typically benefited from favorable pricing.
US-exposed, loss-impacted, and more complex risks faced tighter capacity, higher attachments, and selective single- or double-digit rate increases.
- Claim severity and social inflation continued to impact the US auto market, with insurers asking for stronger fleet safety and telematics data use.
Commercial auto remained challenged, with claims pressure driven by rising physical damage severity from parts, labor, and theft, and elevated auto liability costs due to litigation, claim complexity, and larger settlements.
- Auto insurers offered more favorable conditions for best-in-class risks with strong loss ratios and well-documented controls, with close scrutiny of written policies, site inspections, and national safety profiles. Some clients saw double-digit rate reductions.
Capacity for specialty or complex risks, especially with material US-exposure, remained more selective.
- Insurers increasingly structured complex risks with layered or corridor programs that favored detailed underwriting submissions.
Underwriting scrutiny focused on higher attachments, reduced line sizes, increased sub-limits, and per- and polyfluoroalkyl substances (PFAS) and pollution wordings.
Some clients used premium savings to increase limits or lower retentions.

Canada financial and professional lines

Financial and professional lines rates decline for 14th consecutive quarter

Financial and professional lines rates declined 7%, compared to a 6% decline in the prior quarter. The market has seen quarterly declines since the first quarter of 2023.

Directors and officers (D&O) liability decreased by 6% on average. Pricing for employment practices liability (EPL) and fiduciary liability remained unchanged.
Insurers generally shifted to more selective rate adjustments.
Underwriters remained watchful for exposures tied to cross-listed equities and private transactions.
Rising health and welfare litigation and EPL claim activity have not, at this point, led to underwriting or pricing impacts, with terms remaining stable.

Cyber rates decrease amid expanded capacity

Cyber insurance rates decreased 6%, compared to a 5% decrease in the prior quarter.

New market entrants expanded capacity across excess and primary layers.
Coverage continued to expand, with fewer coinsurance requirements, broader sub-limited enhancements, and more frequent cybercrime sub-limits.
Insurers were generally more willing to offer lower retentions and coverage enhancements to insureds with stronger controls at no added cost, or premium reductions for the existing program.

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

Global Insurance Market Index

07/22/2026

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

07/22/2026

Insurance rates in the US decreased in the second quarter.

Skyline of London over Tower Bridge on the Thames

Global Insurance Market Index

UK insurance rates

07/22/2026

Insurance rates in the UK declined by 8% in the second quarter.

Global Insurance Market Index

Latin America and Caribbean insurance rates

Insurance rates in the region decreased 9% in the second quarter.

Berlin, Germany viewed from above the Spree River.

Global Insurance Market Index

Europe insurance rates

Insurance rates in Europe declined 6% in the second 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 13% in the second quarter.

Global Insurance Market Index

Asia insurance rates

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

Skyscrapers in Abu Dhabi, United Arab Emirates.

Global Insurance Market Index

India, Middle East, and Africa insurance rates

22/07/2026

Insurance rates in the second quarter decreased 16% 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