Evelin Tejada

Canada's commercial property and casualty market was expected to enter 2027 strongly, supported by abundant capacity, strong insurer balance sheets, and stable catastrophe trends.
Many Canadian renewals were bringing meaningful savings, with occasional cuts near 30% to 40% and more typical reductions around 10% to 15%.
SMEs were benefiting too, and clients increasingly asked brokers to shop around, with many accounts >$50K in premium routinely seeing reductions in Canada.
Some lines stayed tougher, including cyber and certain liability or marine cargo risks, but broad insurer competition was also loosening underwriting in many classes.
Executives expected Canada's soft market to last through at least Q2 or Q3 2027, even as underwriting results at some insurers began weakening.

Canada Commercial Insurance Stays Client-Friendly

In Canada, an insurer survey found 48% intended to leave homes unattended >1 day in colder seasons while 39% didn't know policy requirements.
Only 15% said they'd review coverage before leaving, yet many policies require a competent person to check homes regularly and confirm heat stays on.
Standard policies typically cover frozen-pipe damage when pipes stay in heated areas and owners take reasonable precautions, but vacant-home rules often exclude water damage.
Before a trip, review inspection rules, line up a trusted checker, share contact instructions, and have mail collected to avoid obvious vacancy signs.
If heat fails, shut off water and drain pipes where appropriate; only 7% would notify their insurer, and 33% considered how requirements affect coverage.