Canada Insurance Market Report 2014

Insurance markets in Canada were characterized by mostly stable rates across industries and coverage lines in 2013.

With record losses, 2013 was a challenging year for Canadian property and casualty insurers. Despite this, the market appears uncertain as to how to move forward.

Insurance markets in Canada were characterized by mostly stable rates across industries and coverage lines in 2013, according to the Canada Insurance Market Report 2014. Despite record losses for property and casualty insurers in 2013, the market appears uncertain as to how to move forward.

Other key findings from the report

• The Canadian property and casualty insurance rates are expected to remain stable, with average increases in the 5% range.
• Private companies and those with Canadian securities exposure are benefitting from abundant insurer capacity, resulting in a highly competitive market and stable premiums for financial and professional liability insurance.
• Among the specialty coverage lines, rates are generally stable for energy, environmental, marine, small and midsize businesses, and trade credit and political risk insurance.
• The Canadian property and casualty insurance rates are expected to remain stable, with average increases in the 5% range.
• Private companies and those with Canadian securities exposure are benefitting from abundant insurer capacity, resulting in a highly competitive market and stable premiums for financial and professional liability insurance.
• Among the specialty coverage lines, rates are generally stable for energy, environmental, marine, small and midsize businesses, and trade credit and political risk insurance.