2026 Executive Outlook | Lisa Giannone, BFL Canada

Canada’s property and casualty insurance industry will enter a new era in 2026, as regulation comes into effect holding insurers accountable for sustainably managing climate resilience.

This past year was focused on modernization and efficiency, but the coming year will bring a transformative shift, with the introduction of mandatory climate-related reporting and disclosures. Insurers will be increasingly expected to demonstrate measurable impact of sustainability measures.

This change will reshape how insurers assess risks, determine pricing and allocate capital, among other things. It will also result in a more hands-on climate risk mitigation and management approach.

Brokers will play a pivotal role in driving insurers to evolve and deliver products and capacity at competitive pricing. Brokers will push for proactive engagement, ongoing and transparent communication, dynamic data-driven solutions and claims prevention tools through analytics and artificial intelligence (AI).

Brokers who bridge the gap between client needs and insurer capabilities when considering climate risks, risk management and insurance programs will differentiate themselves by delivering value and resilience to their clients.

Layered into this is AI adoption, which will play a critical role in how the industry meets new regulatory and societal demands.

AI is no longer an upcoming trend. In 2026, it will empower brokers who have invested in purpose-built AI to transform their operational efficiencies while delivering data analytics to insurers. These insights will allow the development of strategic products tailored to clients’ needs associated with climate risks, or any other related and emerging risks.

As technology continues to evolve, expect talent acquisition strategies to shift. Recruitment will no longer be focused on hiring traditional execution and technical roles. Rather, it will prioritize talents that thrive on creativity and innovation. Building teams with a strong ability to collaborate and connect the dots between AI’s contributions, clients and insurers will be essential. These teams will ensure regulatory changes are not only implemented but can be leveraged to enhance resilience and protect our clients and communities in a sustainable way.