2026 Executive Outlook | Matthew Turack, CAA Club Group of Companies

As we look ahead to 2026, the property and casualty insurance industry is preparing for a significant shift. Ontario’s planned auto insurance reforms stand out as the most transformative change the industry will face.

Ontario’s reforms, due to be implemented in July 2026, will fundamentally alter how personal auto insurance is structured. For years, coverage options have been largely standardized and mandated, leaving little room for individual choice. But Ontario policyholders will soon encounter a new landscape: more options, more decisions and greater responsibility to understand the coverage that best fits their needs. This shift brings both opportunity and risk.

On the one hand, consumers gain the power to tailor their policies, potentially finding savings that help address affordability concerns. On the other hand, the complexity of these choices means education and guidance will be more important than ever.

Affordability remains a pressing issue for Canadians. Rising costs for consumer goods, increases in other living costs, and economic uncertainty have all led to more consumers struggling with payments and a noticeable uptick in non-sufficient funds situations.

Even though our business model offers policyholders flexible payment programs and policy reviews, the broader economic pressures are not easily solved within our industry alone.

Insurers will need to invest in consumer education, ensuring people understand their options, the risks of opting out of certain coverages and the longer-term implications of their decisions.

We must focus on empowering and educating policyholders with clear, accessible information. We will invest in consumer education to help people understand their options, the risks of opting out of certain coverages and how their decisions could impact their lives.

Helping people make informed choices and avoid unnecessary risks will be key to navigating this new era.

2026 will bring change, challenge and opportunity. By prioritizing education and innovation, Canadians can make the most of their insurance choices and better navigate the economic pressures that lie ahead.