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Best insurance companies for construction in Canada
Canadian brokers voted — here are the best construction insurers in Canada,
5-Star ranked for 2026
By Insurance Business Canada ■ July 2026
Best construction insurance companies in Canada: market context 2026
Finding the best insurance companies for construction in Canada has never required more care – and this report, based on original research and exclusive interviews with practicing brokers, sets out exactly what separates the leaders from the field. Canada’s construction insurance market entered 2026 in a condition its most experienced practitioners had rarely seen: rates at roughly half of what would have been considered normal 24 months earlier, according to industry participants, while the risks attached to live projects had become measurably more complex.
New project starts – particularly the four- to six-storey wood frame condominium buildings that had long formed the backbone of the broker-placed construction book – were declining as affordability pressures, rising material costs, and shifting migration patterns reshaped where and what Canada was building.
The scale of the challenge facing the broader insurance market provides essential context. According to the Insurance Bureau of Canada (IBC) and Catastrophe Indices and Quantification Inc. (CatIQ), 2024 was the costliest year on record for insured catastrophe losses in Canada, with severe weather events generating $8.5 billion in claims (IBC/CatIQ, January 2026), the first time in Canadian history that total had exceeded $8 billion, and nearly triple the 2023 figure. That compares with an annual average of just $701 million in insured severe weather losses between 2001 and 2010. The decade from 2016 to 2025 produced $37 billion in catastrophe losses, nearly three times the preceding decade. Read the Insurance Bureau of Canada 2024 catastrophe loss report for the full breakdown of events and insured losses.
For construction insurers and brokers, this environment matters beyond the headline numbers. It drives underwriting scrutiny, shapes deductible structures, and adds waiting periods and natural catastrophe exclusions to the policies being placed. It concentrates broker attention on specialist insurance providers for construction that have the claims capability to respond when large, complex losses occur – not just those offering the most competitive rate.
US tariffs introduced in 2025 on steel, aluminum, and lumber added further pressure on construction costs. Michael Malfa, CIP, CEO and co-founder of Boardwalk Insurance in Toronto, explains the practical effect: “Tariffs are making a big impact – changes in construction schedules, changes in labour. Projects are being delayed and anticipated construction costs are running up a lot higher than they previously did.” For more on how the trade environment is reshaping coverage pricing, read IBC’s analysis of how US tariffs are affecting construction insurance costs in Canada.
The geographic picture is uneven. British Columbia (BC) – and Vancouver in particular – has seen residential construction activity soften sharply, with the Vancouver census metropolitan area recording its lowest constant-dollar permit value since Statistics Canada began tracking the series, according to the statistics agency's June 2025 building permits release. Alberta has held up more strongly, with Toronto showing selective growth in multi-unit development through mid-2025 before pulling back. According to ConstructConnect Canada’s December 2025 market analysis, civil construction is the only major category projected to grow in 2026, with starts forecast to expand by nearly 30 percent year-on-year. Statistics Canada confirmed total investment in building construction reached $272.1 billion in 2025, up 8.5 percent year-on-year, though non-residential permits fell 5.3 percent in the first nine months of that year.
Modular construction is adding fresh complexity. Prefabricated building components assembled off-site require a fundamentally different underwriting lens – values exist simultaneously in factories, storage yards, and in transit. Build Canada Homes, the federal agency launched in September 2025 with a $13-billion initial investment mandate, has made modular and factory-built methods a central pillar of its housing delivery strategy. For a deeper look at how specialist underwriters are approaching this shift, read modular construction insurance coverage in Canada explained.
What makes the best construction insurers in Canada: five broker criteria
The Insurance Business Canada Brokers on Construction 2026 report asked Canadian brokers to nominate the leading construction insurance providers they trust most to place construction risks. The resulting list reflects considered professional judgment rather than price sensitivity. Five qualities defined every winning insurer – and together they form a framework any broker can use when evaluating the market.
The anatomy of a 5-Star Construction insurer
Five qualities that define every winning insurer — as voted by Canadian brokers
Click any pillar to explore what brokers look for — and why it matters in 2026's market.
Construction-literate team
CCDC contracts, project schedules and full scope of work across all risk types
Risk prevention upfront
Water shutoff plans, hot-work controls, site housekeeping and moisture management
Appetite for complex risk
Spec projects, in-progress builds, modular construction and civil infrastructure
Construction-literate adjusters
Know CCDC obligations, project schedules and loss types from day one
Speed and authority
Rapid response, minimal escalation, on-site for major losses within hours
Transparency throughout
Clear timelines, regular broker updates, practical approach to keeping projects moving
All 6 full-submission winners offered Builder's Risk and Wrap-Up Liability. The majority extended to Environmental and Professional Liability cover.
Speed and accessibility
Human underwriters on hand; portal self-serve for smaller risks; answers within hours, not weeks
Flexibility in the field
CCDC-compliant wordings, mid-term amendments, pro-rata extensions, 30-day terms
National reach
Available 24/7 across all provinces, not just major centres
Consistent through cycles
Demonstrated presence across both hard and soft construction markets
Proven wording quality
Years of tested, CCDC-aligned policy language brokers know and trust
1. Construction-specific underwriting expertise: how it affects construction insurance cost in Canada
The best construction insurance companies in Canada bring underwriting expertise that is genuinely specific to construction – not generic property and casualty capability adapted to the sector. Malfa says, “You need to have the right underwriting bench where you’re actually doing a lot of loss and risk prevention up front, and the underwriters have knowledge into that.” For a broker placing a project worth tens or hundreds of millions of dollars, this distinction is material.
Risk engineering – the proactive guidance a specialist construction insurer provides on how to reduce loss frequency and severity – was a recurring theme across broker feedback. Water damage sits at the top of the claims frequency table for construction projects, and the highest-rated firms distinguish themselves by bringing practical, project-specific guidance to the table: water shutoff maps, end-of-day valve checks, temporary heat and freeze plans, moisture management systems, and leak detection technology. “That makes a big difference outside of price,” Malfa says, “because that actually will help bring the price down and it’ll help the project run smoother.”
2. Claims capability: what builders risk insurance brokers look for above all else
The second major differentiator – and arguably the most decisive – is claims capability. When comparing two otherwise similar quotes, brokers will choose the carrier with the better construction claims bench. What that means specifically is adjusters who are construction-literate: who understand Canadian Construction Documents Committee (CCDC) contracts, project schedules, and the operational consequences of delays, combined with speed to decision and clear lines of authority.
Michael MalfaBoardwalk Insurance
“How quickly can they arrive at a decision and what level of authority do they have before they have to escalate?” Malfa asks. “Because oftentimes, what we see are large settlements that require many layers of escalation and that slows things down completely.” Transparency – clear timelines, regular broker updates, a practical approach to keeping projects moving – rounds out the claims picture. See how Canada’s top-rated construction insurers approach construction insurance claims handling standards in Canada in IBC’s 2025 Brokers on Construction report.
3. Builders risk insurance and wrap-up liability policy coverage: the non-negotiable baseline
Every 5-Star winner covered builders risk, course of construction, and wrap-up liability as standard – the table-stakes products any serious construction insurance company in Canada must offer. The majority extended to environmental and pollution liability, professional liability and errors and omissions, delay in start-up, installation floater, and contractors’ equipment cover. The differentiator is how well wordings align with CCDC contract requirements and how flexible underwriters are on mid-term amendments.
For context on the commercial insurance environment in which these standards apply, the Insurance Bureau of Canada commercial insurance market data provides a detailed breakdown of 2024 insured commercial losses across Canada.
4. Broker accessibility and responsiveness:
a key differentiator for construction insurance brokers in Canada
Brokers consistently cited same-day decision capability on complex risks as a meaningful competitive advantage when rating specialist construction insurers in Canada. Human underwriters available by phone, portal self-serve for smaller risks, and turnaround measured in hours rather than weeks – these were the service standards that separated the best-rated firms from the field. In a soft market where technical margins are compressed, the quality of the broker relationship increasingly determines which insurance companies earn nominations.
5. Long-term stability: why market commitment defines the best construction insurers in Canada
Brokers returned repeatedly to the question of whether a construction insurance company would still be present when the market hardened. A carrier that entered the construction space during benign conditions and exited when profitability declined offered no real value to brokers building long-term client relationships. The best construction insurers in Canada have demonstrated presence through multiple market cycles – hard and soft – with consistent wordings, maintained capacity, and staff who know the sector deeply.
The five pillars above – underwriting expertise, claims capability, coverage breadth, broker accessibility, and stability – were identified through broker nominations and insurer submissions for the IBC Brokers on Construction 2026 report. They represent what Canadian brokers consistently look for when selecting the best construction insurance companies in Canada.
Canada’s catastrophe loss decade: why claims matter more than price
Canada's catastrophe loss decade
Annual insured losses from severe weather events (CAD billions) — why claims capability matters
2001–2010 annual average
$0.7B
per year
2016–2025 decade total
$37B
nearly 3× prior decade
2024 record total
$8.5B
first time over $8B in history
The chart above illustrates the long-run deterioration of Canada’s catastrophe loss environment – a trend with direct implications for the cost, availability, and terms of construction insurance in Canada. When $8.5 billion in insured losses land in a single calendar year, as they did in 2024 according to IBC and CatIQ data, the entire market tightens its scrutiny of risk quality. The result is that a record loss year reinforces rather than undermines the value of long-term, expertise-driven insurer relationships – exactly what the 2026 broker nominations reflect.
Record insured catastrophe losses: $8.5 billion (2024)
First time in Canadian history total exceeded $8 billion, nearly triple the 2023 figure
Source: Insurance Bureau of Canada/CatIQ, January 2026
Decade comparison: $37 billion (2016–25)
Nearly triple the $14 billion total recorded across 2006–15 (inflation-adjusted).
Source: Insurance Bureau of Canada, January 2026
Canada’s construction sector in transition: what it means for insurance
Canada's construction sector in transition
Projected year-on-year change by sector, 2026 — hover a bar to explore the insurance implications
Total building investment 2025
$272B
+8.5% YoY (Statistics Canada)
Civil construction starts 2026
+30%
Only major category growing
Federal infrastructure committed
$115B
over 5 years
Hover a bar to explore
—
Each sector carries distinct insurance implications for brokers and their construction clients in 2026.
Residential softening
Fewer wood frame condo starts in BC and Ontario. Brokers pivoting client books toward civil and infrastructure risks.
Civil opportunity
$115B federal commitment and $51B Build Communities Strong Fund driving roads, power and transit construction.
Modular on the rise
Build Canada Homes mandates modern construction methods. Off-site fabrication requires a distinct underwriting approach.
TIV risk
US tariffs on steel, aluminium and lumber raise mid-project costs. Escalation clauses and TIV validation essential at binding.
The construction landscape that specialist insurers must navigate in 2026 looks markedly different from the market that shaped the current generation of underwriters. Residential starts – particularly the wood frame multi-family projects that historically dominated the construction insurance book – are declining. ConstructConnect Canada projects a five percent fall in residential starts in 2026, with single-family down 11.6 percent. Commercial construction faces a far sharper correction, with starts projected to fall 45.7 percent from their 2025 high.
The counterweight is civil infrastructure. ConstructConnect projects nearly 30 percent growth in civil construction starts in 2026, driven by a federal infrastructure commitment of $115 billion over five years and the $51 billion Build Communities Strong Fund launched in 2026. For brokers whose residential contractor clients are pivoting into civil work, this creates both an opportunity and a challenge: civil risks require construction insurance companies in Canada with public works appetite and CCDC-equivalent contract knowledge – not simply extended multi-family residential programs.
Total building investment, Canada: $272.1 billion (2025)
+8.5 percent year-on-year in constant dollars
Source: Statistics Canada, The Daily, February 2026
Civil construction starts projection: +30 percent year-on-year (2026)
Only major construction category forecast to grow, driven by federal infrastructure pipeline
Source: ConstructConnect Canada, December 2025
Winner profile: Specialty Program Group (SPG) Canada
Specialty Program Group (SPG) Canada has been operating in the Canadian construction insurance market for close to eight years – long enough to have navigated a hard market and now to be working through what its construction team describes as the softest cycle it has ever seen. For the managing general agency (MGA), that longevity is not incidental to its appeal to brokers placing construction risks in Canada. It is the point.
“We’re not leaving, we’re not going anywhere,” says Chris Pauli, who leads SPG Canada’s construction team. “Somebody might come in and write a bunch of business and then exit in a year when they don’t think it’s profitable anymore. We’re not in that position.”
That stability –underwritten by parent company SPG’s broader scale of more than 500 staff – translates into something brokers rely on across market cycles: consistent wordings, maintained capacity, and a claims operation that does not disappear when conditions tighten.
Capacity and market access
SPG Canada has assembled approximately $80 million in capacity across more than 20 individual contracts, including multiple Delegated Underwriting Authorities (DUAs) and London binders. In a market where capacity is currently abundant, Pauli is candid that this is not the differentiator it will become. “Capacity is abundant right now. So, it’s not the difference maker for us at the moment, but it will be again when it changes," he says. The team views its capacity position as a foundation for the next hard market rather than a current selling point.
Specialty Claims Canada: in-house claims management
Where SPG Canada differentiates itself among construction insurance companies in Canada is its claims capability. The firm operates Specialty Claims Canada as an in-house claims management function – a model Pauli describes as unique among MGAs in the Canadian market. “The claims team that we have in house at SPG is second to none. There’s no other MGA that I know that has what we have,” he says.
Specialty Claims Canada handles all of SPG’s claims across its portfolio, bringing construction-specific expertise to both routine losses and the major fires and structural failures that test a carrier’s true capabilities.
“Those big ones are what differentiates us,” Pauli says, “where we have expertise, we have knowledge, we know who the adjuster is that should be on that one all across the country.” In the case of a major fire claim, the response team is on site within hours. The same adjuster who handled previous large losses handles the next, reflecting a continuity of expertise that directly benefits the broker and their client.
Team stability and geographic reach
SPG Canada’s construction group numbers around 30 people, a size Pauli deliberately maintains to preserve a family-oriented culture within a large organization. Historically a western Canadian MGA with its construction book concentrated in British Columbia (BC) and Alberta, SPG Canada is now actively expanding its civil appetite as brokers whose clients traditionally built residential frame pivot to roads, utilities, and infrastructure. “We’re seeing a lot more growth in Alberta than we are in BC,” Pauli notes, reflecting the broader market shift away from wood frame residential construction in British Columbia toward civil and infrastructure risk further east.
Q&A: Chris Pauli, SPG Canada
The construction market is as soft as it has been in years. How is SPG Canada managing through it?
The construction industry as a whole has been in decline and so it’s been a bit of a struggle in terms of new projects. We’ve got a great team – about 30 people who have been consistently there over the last few years. The senior group definitely helps us through those times where it might be a little more difficult. A lot of these guys have never been through a soft market and it’s as soft as it’s ever been. They’re steering it for us and doing a great job. The service level to the clients has got to be number one right now.
What do brokers get from SPG Canada that they cannot find elsewhere?
I would say market-leading capacity – multiple DUAs, multiple binders through London. It’s around $80 million in capacity that we can put down today if we needed to, over 20-odd different contracts. And the claims team that we have in house at SPG is second to none. There’s no other MGA that I know that has what we have. They’re called Specialty Claims Canada. We’ve had our share of losses on the construction side from some of the biggest ones in the country to many of the smaller ones. But those big ones are what differentiates us. You need some comfort when you’re paying a million dollars in premium for something.
How does your approach to claims response work in practice?
In the case of a larger type of fire claim, they’re there within hours. The adjuster is then determined by the expertise required for that specific claim scenario. The guy that’s handled two large fires for us is going to handle the third large fire because we’ve had excellent feedback on how those first few losses were handled. And we’re always engaged with the broker on those losses – making sure people are happy with the process, the claim service, the payments, all that. It’s the only thing we have to offer after it’s been bound, essentially. So, it’s a big part of our business.
Where do you see construction insurance in Canada heading over the next 12 to 24 months?
We’re primarily out west – BC and Alberta – though we’re across the country now. We made our bread and butter from condo buildings, four- and six-storey wood frames, and we’re building less and less of those right now because of the market in Canada. So, we’re having to pivot and help brokers in another way. We’re seeing brokers that used to write four wall frames now writing civil risks because that’s what their contractors are doing. You’ve got to know that the price today might not be the price tomorrow. You’ve got to be out there talking to people.
The 2026 5-Star Construction winners: builders risk and wrap-up liability leaders, broker-ranked
For brokers asking which Canadian construction insurer is strongest for builders risk insurance, all 15 winners below cover it as a core line. For wrap-up liability policy Canada, every winner offers it as standard. For construction professional liability in Canada, the majority extend their programs to Professional Liability and Errors and Omissions coverage. The table below provides the broker-facing coverage context for each 2026 5-Star Construction winner, as determined by broker nominations across Canada.
IBC Brokers on Construction 2026
The 2026 5-Star Construction insurers in Canada
Ranked by the brokers who place these risks — the fifteen insurers Canada's construction insurance market trusts most, and where each one's strengths lie.
| Insurer | Core coverage strengths | Recognition |
|---|---|---|
| AIG |
Wrap-up liability Builders risk Excess/umbrella Professional liability
|
|
| Aviva Canada |
Builders risk Course of construction Wrap-up liability Environmental
|
|
| CHES Special Risk |
Specialty builders risk Hard-to-place risks Non-standard projects
|
|
| Chubb |
Wrap-up liability policy Builders risk insurance Delay in start-up Professional liability
|
|
| CNA |
Commercial general liability Builders risk Construction professional liability E&O
|
|
| Economical (Definity Insurance) |
Builders risk Wrap-up liability Course of construction Residential frame
|
|
| HDI Canada |
Industrial & commercial builders risk Wrap-up liability Project-specific programs
|
|
| Intact Insurance |
Builders risk insurance Wrap-up liability policy Environmental liability
|
|
| Liberty |
Builders risk Wrap-up liability Delay in start-up Excess/umbrella
|
|
| Northbridge Insurance |
Builders risk Wrap-up liability Contractors equipment Professional liability
|
|
| Premier Canada Assurance |
Course of construction Wrap-up liability Broker portal access Competitive pricing
|
|
| QBE |
Builders risk insurance Construction liability Environmental/pollution Professional lines
|
|
| Sovereign General |
Specialty construction risks Builders risk Wrap-up liability Risk engineering
|
|
| Specialty Program Group (SPG) Canada |
Builders risk Wrap-up liability Civil infrastructure Modular construction In-house claims (Specialty Claims Canada)
|
|
| Special Risk Insurance Managers (SRIM) |
Specialty builders risk Hard-to-place risks Wrap-up liability Commercial general liability
|
Source: Insurance Business Canada / Key Media, Brokers on Construction 2026 broker survey.
What should brokers look for in a construction insurance company in Canada?
Several forces will shape the construction insurance market in Canada over the next 12–24 months. The first is the inevitable turn of the market cycle. The federal infrastructure pipeline – $115 billion committed over five years, anchored by the $51 billion Build Communities Strong Fund – will sustain elevated construction activity well beyond the current soft market. When that activity generates loss experience, rates will firm. The specialist insurance companies for construction that have maintained genuine expertise through the soft cycle will be best placed to lead the recovery.
The structural shift toward civil and infrastructure risks will deepen. Brokers whose residential contractor clients are moving into roads, power infrastructure, transit, and institutional construction need construction insurance companies in Canada with civil project appetite and CCDC-equivalent contract knowledge for public works. This requires different wordings, different limits structures, and underwriters who understand public contract environments – not simply extended residential frame programs.
Modular construction will grow in significance as Build Canada Homes accelerates factory-built housing delivery across British Columbia, Alberta, Ontario, and other provinces. Off-site fabrication brings underwriting challenges around values in multiple locations, ownership transitions, and the potential for quality control defects to multiply across units. Construction insurance companies that develop specific appetite and wordings for modular risk now will hold a meaningful advantage as the sector scales.
Tariff-related cost pressures are likely to persist, making total insured value (TIV) management a continuing priority. Building escalation clauses into policy terms at inception – and validating TIV at each stage of a project’s life cycle – is becoming standard professional practice for brokers wanting to avoid coverage gaps mid-project.
Technology, including AI, is beginning to change how brokers analyze construction risks and compare insurance company offerings. AI tools that can ingest project schedules, contract documentation, and scope of work are starting to surface coverage nuances that would previously have required substantial manual review.
“A human must remain in the loop,” Malfa notes, “to provide expertise and oversight for truly battle-tested solutions.”
What the best construction insurance companies in Canada have in common
The 2026 Insurance Business Canada Brokers on Construction winners share a common characteristic: they are chosen by brokers who place construction risks every day and who have seen firsthand what separates a dependable partner from a convenient one. In a market where Canada recorded $8.5 billion in insured catastrophe losses in 2024 (IBC/CatIQ) and where civil infrastructure starts are set to grow nearly 30 percent in 2026 as residential softens (ConstructConnect Canada), the ability to underwrite complex risks, respond to major claims, and remain present through every market cycle has never been more important. The qualities that defined the best construction insurance companies in Canada in 2026 – expertise, claims literacy, coverage breadth, broker partnership, and long-term market commitment – are the same qualities that will define the leaders of the next cycle.
Best Insurance Companies for Construction in Canada | Brokers on Construction
- AIG
- Aviva Canada
- CHES Special Risk
- Chubb
- CNA
- Economical (now part of Definity)
- HDI Global SE Canada
- Intact Insurance
- Liberty
- Premier
- QBE
- Sovereign General
- Special Risk Insurance Managers (SRIM)
Frequently asked questions: construction insurance in Canada
What are the best insurance companies for construction in Canada?
The best insurance companies for construction in Canada determined by Insurance Business Canada through its Brokers on Construction report are:
-
AIG
-
Aviva Canada
-
CHES Special Risk
-
Chubb
-
CNA
-
Economical (Definity Insurance)
-
HDI Canada
-
Intact Insurance
-
Liberty
-
Northbridge Insurance
-
Premier Canada Assurance
-
QBE
-
Sovereign General
-
Specialty Program Group (SPG) Canada
-
Special Risk Insurance Managers (SRIM)
These designations are awarded based on outstanding broker ratings across underwriting expertise, claims capability, coverage breadth, responsiveness, and long-term market commitment.
What does construction insurance cover in Canada?
Construction insurance in Canada typically includes Builders Risk or Course of Construction (CoC) coverage, which protects a project’s physical structure during the build phase, and Wrap-Up Liability, which covers third-party liability for all parties on a project under a single policy. Comprehensive construction insurance programs often extend to Professional Liability and Errors and Omissions (E&O), Environmental and Pollution Liability, Contractors’ Equipment, Installation Floater, Delay in Start-Up, and Umbrella or Excess Liability. Policy wordings compliant with the Canadian Construction Documents Committee (CCDC) standard contract forms are an important feature for brokers placing risks on projects governed by those contracts.
Why is claims capability so important when choosing a construction insurer in Canada?
Construction claims are among the most complex in the general insurance market. They involve large sums, long project timelines, multiple parties, and loss events – such as major fires, water damage, and structural failures – that can halt a project and generate significant consequential costs. Brokers consistently identify construction-literate adjusters, fast decision-making authority, and transparent communication as the factors that most differentiate the best construction insurance companies in Canada. In 2024, Canada recorded $8.5 billion in insured catastrophe losses (IBC/CatIQ, January 2026) – reinforcing the importance of proven claims capability for any insurer operating in the construction sector.
What is the best builders risk insurance in Canada?
All 15 IBC 5-Star Construction winners for 2026 offer builders risk insurance (also known as course of construction insurance) as a core coverage. Builders risk insurance in Canada protects the physical structure of a project during the build phase, covering loss or damage from fire, theft, vandalism, and weather events. The best builders risk insurance providers in Canada are those that combine competitive coverage with construction-literate claims handling, CCDC-compliant wordings, and flexible limits that can be adjusted as project values change. Brokers consistently rate claims capability and underwriting expertise above price when selecting builders risk insurance providers.
How does wrap-up liability policy Canada work for construction projects?
A wrap-up liability policy in Canada – also known as an owner-controlled insurance program (OCIP) or contractor-controlled insurance program (CCIP) – covers all parties on a construction project under a single commercial general liability policy. This eliminates coverage gaps and inconsistencies that arise when each contractor carries their own liability insurance. Wrap-Up Liability is standard coverage among the IBC 2026 5-Star Construction winners. It is particularly valuable on large, complex, or multi-party projects where coordinating multiple individual policies creates administrative burden and potential for uncovered losses.
What is modular construction insurance and why does it require specialist cover?
Modular construction involves prefabricating building components off-site – in factories or assembly facilities – before transporting and assembling them at the project location. This creates insurance considerations that differ from traditional site-built construction: values exist in multiple locations simultaneously, ownership of components changes at different stages, and a quality control defect in a prefabricated unit can potentially affect many identical units at once. Build Canada Homes, the federal agency launched in September 2025 with a $13-billion initial investment mandate, has made modular and factory-built methods central to its housing delivery strategy, making this a mainstream exposure for specialist construction insurance companies in Canada (Source: Government of Canada, January 2026).
What should brokers look for when comparing construction insurance companies in Canada?
Brokers should prioritize underwriting expertise that is genuinely specific to construction, including knowledge of CCDC contracts and the ability to guide clients on risk prevention. Claims capability – the construction literacy of the adjusting team, speed to decision, and transparency of process – consistently ranks above price as a selection factor among experienced Canadian construction brokers. Coverage breadth (builders risk, wrap-up liability, environmental, professional liability), accessibility of underwriters for complex risks, wording flexibility, and demonstrated commitment to the construction sector through multiple market cycles are all significant considerations.
Insights
-
Michael Malfa, CIP
CEO and Co-founder
Boardwalk Insurance
Methodology: how Canada’s best construction insurers were selected
To determine the best insurance companies for construction in Canada for 2026, Insurance Business Canada conducted a comprehensive research process leveraging its national network of brokers and industry professionals. Brokers were invited to nominate insurers they had worked with in the construction sector. Insurers that received a sufficient volume of broker nominations were then invited to participate further in the process, including the opportunity to complete a detailed submission. These submissions provided supporting evidence of capabilities in the construction space, such as underwriting expertise, risk appetite, range of construction-specific products, responsiveness to broker needs, pricing competitiveness, and overall service standards.
The research team analyzed both the quantitative survey results and qualitative information provided through insurer participation. Final scores were determined primarily based on broker ratings across key performance indicators aligned to construction insurance, with additional consideration given to consistency of service and the strength of insurer support for construction clients and brokers.
The 5-Star Construction designation was awarded to those organizations that achieved outstanding broker ratings while demonstrating strong performance in underwriting, product offering, and overall service delivery within the construction insurance market.
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