Canada Auto Insurance Industry Outlook 2022 - 2026

Key Market Indicators

Over the next five years, Canadian Road Casualties are expected to decrease to 147,100 Persons in 2026. This represents an annualized decline of 0.6%, driven by a decrease in road casualties. By 2026, Canada is projected to have the fifth-highest number of road casualties in the world, behind Russia, Germany, Italy, and France. This is a decrease from 2021, when Canada ranked fourth. Road casualties in Canada are expected to decline over the next five years, reaching 147,100 in 2026. This is a decrease of 1.6% from the 152,650 casualties recorded in 2021. On average, the decline is estimated to be 0.6% per year. In 2021, Canada was the fourth-highest in the world for road casualties, but is expected to drop to fifth place by 2026, with Russia surpassing Canada.

Canada Auto Insurance Market Data and Forecasts

Improve your Knowledge with the latest Indicators and Trends

• Commercial Vehicle Insurance: Navigating Market Shifts and Risk Exposure Dynamics

  The landscape for Commercial Motor Vehicle Insurance continues to evolve with marked shifts in market conditions and operational exigencies. A core aspect of this evolution is palpable in the complex matrix of risk exposure involved in commercial vehicle operations. The scales of this exposure fluctuate with the factors ranging from...

  Discover more insights

• Motorcycle Safety Gear: Exploring the Evolution and Dynamics of Premium Helmet Market

  The premium motorcycle helmet market has experienced substantial evolution driven by technological advancements, safety regulations, and the rising demands of discerning consumers. Increasing knowledge about head injuries and their long-term consequences intensified the focus on safety features and established it as a differentiation criterion among premium products. Customers willingness to...

  Discover more insights

• Exploring the Dynamics of the Global Auto Extended Warranty Market

  The increased demand for auto extended warranties can be traced back to rising car prices and the consumers desire for security against unforeseen expenses. As vehicles become more technologically advanced and expensive, the cost of potential repairs rises, making warranty coverage a preferred security measure amongst countless car owners. This...

  Discover more insights

• Commercial Insurance: Decoding Industry Dynamics and Global Trends for Strategic Planning

  Several factors play pivotal roles in shaping the dynamics of the corporate coverage sector. Foremost among these is the constantly-evolving regulatory landscape, changes to which insurers must keep pace with to avoid risk exposure and operational disruption. Technological innovation is another vital determinant, enabling sophisticated products and streamlined service delivery....

  Discover more insights

• Decoding the Future of Usage-Based Insurance: Key Trends and Opportunities Revealed

  The surge of Usage-Based Insurance (UBI) can be primarily attributed to advancements in technology. The increased accessibility and accuracy of telematics and IoT enables insurers to collect and assess granular-level data related to individual driving behavior and vehicle usage. Additionally, the growing popularity of the sharing economy plays a significant...

  Discover more insights