P&C industry’s mental health worries aren’t just about claims volume

It’s not the NatCats, it’s the industry.

When Canadian Underwriter fielded its 2025 Mental Health Survey to property and casualty (P&C) insurance industry professionals in August, we fully expected to see the numbers improve over last year. Surely the 2024 numbers reflected high stress from a temporary workload deluge from a record year in natural catastrophes. Certainly 2025’s less intense NatCat season would lead to better results.

Nope.

Overall, 2025’s industry responses on key metrics like stress levels, inability to cope, alcohol and drug use, and suicidal thoughts remain statistically consistent with percentages seen in 2024. And in a few cases, they’re higher. 

Conducted in August, Canadian Underwriter’s annual mental health survey drew 532 responses from P&C insurance professionals representing a wide spectrum of the industry — including insurers, brokers, claims adjusters and risk management professionals.

The survey asks them to assess their own mental health on a scale of one to 10, with one representing ‘no concerns’ and 10 meaning ‘unable to function.’

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Eighteen percent scored themselves as between one and three, indicating minimal concerns. That number is down from 26% who gave themselves a relatively clean bill of mental health in 2024’s survey.

Thirteen percent scored themselves at the highest risk levels (between eight and 10), compared to 12% last year. And this year, 1% indicate their mental health issues are so acute they were unable to function, compared with 0% in 2024.

Asked to rate their current stress levels (See Chart 1), 37% say they are either highly or acutely stressed (statistically tied with 38% last year). Exactly half of respondents say their stress is at manageable levels (up slightly from 46% in 2024) and only 13% say they’re experiencing little or no stress (down from 16% last year).

Mid-career industry professionals (46%) are the most likely to say they’re highly stressed, followed by newer entrants (41%) and veterans (30%).

Ninety percent of respondents say their work contributes to their stress.

Asked to identify their top work stressors, a heavy workload ranked Number 1 (63%) and management demands (42%) Number 2. That’s statistically similar to 2024, when 61% said their top stressor was a heavy workload and 45% identified management demands.

‘Dealing with customers’ saw the sharpest increase as a main stressor, leaping to 40% in 2025 from 28% last year.

In verbatim survey responses, industry professionals say problems and confusion around technology and team training are major contributors to workplace stress. Many say frequent software upgrades are a chief source of anxiety, as well as a tendency by colleagues and customers to jump between different communications methods (email, chat, text and phone) while conducting business. 

One newer broker tells the survey she’s drowning in deadlines and stressed by “constantly reorganizing your day based on urgent requests coming in, not enough senior staff in the office that can assist, [and] no time or warm bodies to train junior staff because everyone is so busy.”

In recognition of World Mental Health Day on Friday, Oct. 10, Canadian Underwriter reminds those experiencing acute symptoms to call 988.

This article is excerpted from one that appeared in the October-November, 2025 print edition of Canadian Underwriter.

Phil Porado

Phil, an award-winning journalist with over 30 years of experience in financial topics, has been managing editor of Canadian Underwriter for more than three years.