When the Economy Tightens, Smart Business Owners Look at Every Line.
Sep 9 2026 — The tariff environment is real. So is the opportunity sitting inside your commercial insurance renewal.
READING TIME: 4 Minutes
PEEL REGION, ON - Yesterday, Prime Minister Mark Carney addressed the nation.
Canada's retaliatory tariffs have kicked in. Carney told Canadians that the pivot away from the United States will come at a cost — but that the cost of standing still would be far worse. "We have everything we need to pivot and prosper," he said. “That pivot will come at a cost. There's always a cost to action. But it doesn't come close to the cost of standing still." BNN Bloomberg
For Canadian business owners — particularly those in manufacturing, distribution, import, and any sector with U.S. supply chain exposure — this is not background noise. It is the operating environment. Margins under pressure. Supply chains being rerouted. Customers reassessing purchasing plans. Costs that were predictable six months ago that are no longer.
The BDC put it plainly this week: tariffs don't automatically mean disaster. But the first order of business is to create a clear picture of where the risks are emerging throughout your value chain. bdc
That's the right instinct. And while most of that conversation is happening at the financial, operational, and sales level — there is one area where a real opportunity exists right now that most business owners are not looking at.
Their commercial insurance.
What a Soft Market Means — and Why It Matters Right Now
Insurance markets move in cycles. Hard markets mean carriers are pulling back — higher premiums, tighter underwriting, less appetite for risk. Soft markets mean the opposite — carriers are competing aggressively for business, pricing is sharper, and coverage terms are more favourable.
Right now, commercial insurance in Canada is in a soft market.
Carriers are eager to write business. There is capacity in the market and competition among insurers for quality commercial accounts. For a business owner navigating a tightening economic environment — that is a meaningful opportunity.
When costs are rising and margins are shrinking, every line of the P&L deserves scrutiny. Most businesses review their staffing, their supply chain, their pricing. Very few review their insurance at the same time.
That is where money is being left on the table.
“Most business owners renew their commercial insurance on autopilot. The broker sends the renewal, they approve it, and it goes through. In a soft market — when carriers are actively competing for business — that autopilot is costing them. A competitive market review can deliver better pricing, broader coverage, or both. This is the right time to have that conversation."
— Bram Bains, Maverick Insurance Brokers
What a Commercial Insurance Review Actually Covers
A commercial policy audit is not just about the premium. It is about whether the coverage behind the business reflects how the business actually operates — and whether it would perform when it needs to.
Property and contents — does your commercial property limit reflect the current replacement cost of your building, your equipment, your inventory? Inflation has moved significantly in the last two years. A property limit set in 2022 or 2023 may be meaningfully below what it would cost to rebuild today.
Business interruption— if a covered loss forced your business to close for a period, would the business interruption coverage sustain your fixed costs and lost revenue through the recovery? For businesses already managing compressed margins from tariff pressures, a business interruption event without adequate coverage is a compounding crisis.
Commercial general liability— as supply chains shift and new vendor relationships are formed, the liability picture changes. Coverage that was calibrated for one operating model may not reflect the new one.
Directors and Officers— for incorporated businesses with shareholders, board members, or complex governance structures, D&O coverage protects the individuals making decisions on behalf of the company. In a period of economic uncertainty, when decisions carry greater consequence, this coverage deserves its own conversation.
Commercial auto— vehicles used for business purposes need to be rated and covered correctly. A vehicle used for business errands under a personal auto policy is an exposure waiting to surface.
The Tariff Moment Is a Forcing Function
The BDC advises Canadian business owners not to rely on a single forecast — to build scenarios, review cost structures, and consider this a moment to create leaner, more resilient organizations. bdc
Insurance belongs in that conversation. Not because it is the most exciting line item on the balance sheet — but because it is often the most overlooked one. And in a soft market, the reward for paying attention is real.
A business that has been with the same carrier for five years, renewing without a competitive review, is almost certainly not paying the best available rate in the current environment. That delta — the difference between the renewal price and what a competitive market would produce — is recoverable. It goes directly back to the bottom line at a moment when every dollar counts.
Beyond the Private Client
Most people who know Maverick know us through the Private Client Group — high-value home, auto, and personal liability for established families and business owners in Ontario.
What fewer people know is that the same relationships, the same carrier access, and the same advisory approach extends to the commercial side.
If you own a business and your commercial insurance has been on autopilot — this is the moment to look at it. Not because something went wrong. Because the market is in your favour right now and the economic environment makes it the right time to ensure every line of your cost structure is working as hard as it should.
One conversation. No obligation. Book a call below.
This article is for informational purposes and does not constitute legal or financial advice. Speak with a licensed broker to review your specific commercial insurance program.
References: BDC — A New Round of American Tariffs Is Here. What Should You Do Now? bdc.ca · CBC News / CTV News — Carney Warns of Tough Times Ahead. September 8, 2026.
About Maverick Insurance Brokers
Maverick Insurance Brokers is an independent private client advisory based in Brampton, Ontario. Founded by Bram Bains, Maverick serves entrepreneurs, business families, and community leaders across Ontario — providing direct access to a trusted advisor across home, auto, high-value assets, and commercial insurance. Maverick is a member of the MIB Broker Distribution Network and an official partner of the Brampton Honey Badgers (CEBL).
Maverick Insurance Brokers has been recognized by Insurance Business Canada and Canadian Underwriter as a voice in the private client advisory space in Ontario.
for more information visit - maverickinsurance.ca
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