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Catastrophes CatIQ Announcements

CAD 313M – CatIQ Discloses Initial Loss Estimate For Bald Range Fire

Toronto, September 15, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its initial industry loss estimate for the Bald Range fire that affected Summerland, British Columbia, Canada, and the surrounding area between August 7 and 18, 2026.

The first estimate for the event, which provides a snapshot of the insurance market three weeks post-event, is CAD 313 million. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. More detailed meteorological information on the event is available via the CatIQ subscriber platform.

The Bald Range Fire was discovered west of Summerland, B.C., on August 7 and grew rapidly amid tinder-dry conditions, spreading to cover more than 10,000 hectares by the following afternoon. More than 5,000 addresses in the region were subject to evacuation orders for nearly two weeks, and some outlying parts of the community were devastated by the blaze.

Caroline Floyd, Director of CatIQ, commented, “2026 has been another challenging year for wildfires across Canada, and British Columbia has seen some of the worst direct impacts in terms of insured losses with three new catastrophes declared to date. The behaviour of the Bald Range fire was indicative of the extremely dry conditions in the British Columbia Interior this year, as the fire grew to more than 10,000 hectares in less than 24 hours. Another potential indication of the intensity of this year’s fires is that measured against the 20-year average, the British Columbia Wildfire Service shows the province currently sits at about 90 percent of the average hectares burned, but only 80 percent of the average number of fires.”

About CatIQ and PERILS

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact

Nigel Allen | +44 7988 478824 | nigel.allen@allenandclapham.com

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Catastrophes CatIQ Announcements

CatIQ Releases Updated Loss Estimate for Prairies Severe Weather Outbreak of June 2026

Toronto, September 9, 2026 – CatIQ, the independent Toronto-based organisation providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its third industry loss estimate for the Saskatchewan and Manitoba severe storm outbreak of June 9-10, 2026.

This third estimate for the outbreak, which provides a snapshot of the insurance market three months post-event, is CAD 923 million. This figure reflects an increase from CatIQ’s 45-day loss estimate of CAD 850 million, with commercial property losses driving the growth. The updated loss report for the event provides a detailed breakdown of property and motor losses by FSA (high-resolution CRESTA Zones).

In line with the reporting schedule, a fourth update of the market loss from the severe storm outbreak will be made available on December 10, 2026, six months after the event start date. FSA-level loss data for the event will also be updated at this time.

Laura Twidle, President and CEO of CatIQ, commented: “Canada experienced severe weather-related loss events at an above-average pace in the summer of 2026. In fact, the June storms in Saskatchewan and Manitoba marked the start of a ten-week stretch that saw at least one severe convective storm event reach the catastrophe threshold each week. Somewhat unusually, we also continued to see loss events driven by strong thunderstorms into late August and early September. While many of these events saw damage related to hail and strong wind gusts, at present 2026 seems destined to be remembered for its storm-related flash flooding, which resulted in numerous communities seeing their wettest summer on record.”

About CatIQ and PERILS

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact

Nigel Allen | +44 7988 478824 | nigel.allen@allenandclapham.com

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Catastrophes CatIQ Announcements

CatIQ Discloses Second Industry Loss Estimate for Severe Storm Event in Ontario and Quebec in June/July 2026

Toronto, August 17, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its second industry loss estimate for the severe thunderstorm event that affected parts of southern Ontario and southern Quebec between June 30 and July 3, 2026.

The second estimate for the event, which provides a snapshot of the insurance market 45 days post-event, is CAD 439 million. This figure marks an increase versus the initial estimate of CAD 374 million, with growth mainly occurring in commercial lines. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. More detailed meteorological information on the event is available via the CatIQ subscriber platform.

Caroline Floyd, Director of CatIQ, commented: “The summer of 2026 has been an especially stormy one for many communities in Canada, with eleven catastrophes related to severe convective storms declared since June. Notably, many of these events have featured flash flooding as the main driver for insured losses. In fact, several large population centres, including Edmonton and Ottawa, have already recorded their wettest summers on record, with a little more than a month to go until the end of the season.”

About CatIQ and PERILS
Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact
Nigel Allen | +44 7988 478824 | nigel.allen@allenandclapham.com

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Catastrophes CatIQ Announcements

CAD 2.8B – CatIQ Discloses Final Industry Loss For Flooding From The Remnants Of Hurricane Debby In August 2024

Toronto, August 11, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its sixth industry loss estimate for the flooding generated by the remnants of Hurricane Debby that affected Ontario and Quebec between August 9 and 10, 2024.

The sixth and final estimate, which provides a snapshot of the insurance market two years post-event, is CAD 2.800 billion. This figure is stable compared with one-year estimate of CAD 2.806 billion. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses.

The updated loss report provides a detailed breakdown of property and motor losses by FSA (high-resolution CRESTA Zones). Detailed meteorological information is also available via the CatIQ subscriber platform including rainfall totals, damage reports, news items, and images of damage caused by the event.

The remnants of Hurricane Debby crossed through the Lower Great Lakes region between August 8 and 10, 2024. More than 100 mm of rain fell across a large area from eastern Lake Ontario, through Montreal, and along the St. Lawrence River toward Quebec City. The hardest-hit regions of southern Quebec recorded more than 200 mm of rainfall during the event leading to widespread flooding and extensive flood damage.

Caroline Floyd, Director at CatIQ, commented: “In Quebec, the average personal claim shrank slightly, and the average commercial claim grew slightly. Interestingly, the average commercial claim is about the same for both major flooding events from 2024 (Southern Ontario Flash Flooding and Hurricane Debby). It is encouraging to see that at the two-year estimate the personal property claims are more than 99 percent closed with just a few outstanding. Of the big four events in 2024, Hurricane Debby is the last of the 2-year estimates to be published and has the highest percentage of the incurred closed overall.”

Floyd continued: “Hurricane Debby capped off an extremely busy catastrophe month – a month that drove annual losses for 2024 to record-breaking levels. Unsurprisingly, the Canadian insurance industry now uses 2024 as a benchmark to gauge how the latest catastrophe year is going. That said, as we have seen, it only takes one or two events to make it an active year.”

About CatIQ and PERILS

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact Nigel Allen | +44 7988 478824 | nigel.allen@allenandclapham.com

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Catastrophes CatIQ Announcements

CatIQ Discloses Final Industry Loss Estimate for 2024 Calgary Hailstorm, Issues Initial and Updated Estimates for Flash Flooding Events in Ontario and Quebec

Toronto, August 5, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its final industry loss estimate for the hailstorm that affected Calgary, Alberta on August 5, 2024. In addition, it has released an initial estimate for the severe thunderstorm event which affected southern Ontario and Quebec in early July 2026, and the 45-day post-event update for the June 2026 flooding event which impacted Montreal’s West Island.

The sixth estimate for the Calgary hailstorm, which provides a snapshot of the insurance market two years post-event, is CAD 3.349 billion. This figure is stable compared to the one-year post-event CatIQ estimate of CAD 3.293 billion. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. The CatIQ subscriber platform provides detailed breakdowns of property and motor losses by FSA (high-resolution CRESTA Zones) as well as meteorological information on the event.

Caroline Floyd, Director of CatIQ, commented: “Two years after Canada’s largest hail catastrophe, more than 95 percent of reported claims are estimated to have been resolved, up from 86 percent at the one-year mark. This increase is noteworthy in that it likely reflects the exceptional magnitude of the event. By comparison, after the 2020 Calgary hailstorm – the previous largest hail event in Canada – we observed that 90 percent of claims were closed at one year, and 96 percent at two years. So, while the 2024 event progressed more slowly through the first year, the industry has largely caught up at the two-year mark, despite handling nearly twice the claim volume of the 2020 storm.”

CatIQ has also released the first estimate for the severe thunderstorm event that affected parts of southern Ontario and southern Quebec between June 30 and July 3, 2026. Several days of strong thunderstorms capped off a heatwave that had gripped the region at the end of June, with widespread reports of flash flooding, hail up to 40 mm in diameter, and at least two confirmed tornadoes. The National Capital Region in particular saw periods of torrential rainfall, with Ottawa recording nearly 120 mm on July 1. CatIQ’s initial estimate for this event is CAD 374 million. In line with the reporting schedule, a second update of market losses will be made available at the 45-day post-event mark on August 17, 2026.

It has also released the 45-day post-event loss estimate for the Montreal and surrounding area flooding event of June 20 – 21, 2026. The second estimate, covering property and vehicle claims, is CAD 411 million. This marks a slight increase compared to the initial estimate of CAD 409 million. In line with the reporting schedule, a third update of the market losses will be made available on September 21, 2026, three months following the event.

Floyd added: “The summer of 2026 has seen catastrophes occurring across Canada at a record pace, with 10 new events occurring in June and July. The current record year – 2023 – also saw 10 events in June and July, although catastrophes in July made up the bulk of that total. Notably, 2023 also saw a further nine events occur in August, on the way to recording 26 events for the year. With 14 events declared to date, it remains to be seen whether 2026 will become the most active year on record.”

About CatIQ and PERILS

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact

Nigel Allen | +44 7988 478824 | nigel.allen@allenandclapham.com

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Catastrophes CatIQ Announcements

CatIQ Discloses Final Industry Loss Estimate for Jasper Wildfire Complex of July 2024; Second Estimate for Prairies Severe Weather Outbreak of June 2026

Toronto, July 22, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its final industry loss estimate for the wildfire event that affected Jasper, Alberta, between July 22 and August 17, 2024. In addition, it has issued the second loss estimate for the Saskatchewan and Manitoba severe storm outbreak of June 9 and 10, 2026.

The final estimate for the Jasper fire, which provides a snapshot of the insurance market two years post-event, is CAD 1.304 billion. This figure is stable versus the one-year loss estimate of CAD 1.313 billion. The updated loss report for the Jasper event provides a detailed breakdown of property and motor losses by FSA (forward sortation area).

The Jasper wildfire remains, by far, the costliest Canadian fire event of the 2020s, with a total loss only slightly lower than the cumulative total of the decade’s eleven wildfire events to date. Canada has recorded at least one fire-related catastrophe each year since 2023, including five events declared in 2025.

Laura Twidle, President and CEO of CatIQ, commented: “Though the loss footprint for the Jasper wildfire was relatively small, it is an important reminder that even a small number of claims can drive tremendous loss.  Of the more than 220 events in the CatIQ catastrophe loss database, Jasper maintains the highest average claim value for both personal and commercial property.”

CatIQ has also provided a six-week post-event estimate for the severe storm outbreak that affected Saskatchewan and Manitoba in the Canadian Prairies in June 2026. This figure, CAD 850 million, marks an increase over the initial estimate, with growth primarily appearing in motor lines. Both estimates cover property (both commercial and residential) and vehicle (motor) claims.

In line with the reporting schedule, a third update of the market loss from the severe storm outbreak in the Prairies will be made available on September 10, 2026, three months after the event start date. FSA-level loss data for the event will also become available at this time.

Twidle continued: “Contrasting the Jasper fire, the severe weather outbreak saw large population centres directly impacted by storms, driving a very large number of claims. As it stands, this event now has the third highest number of claims of any in the CatIQ database. It has been a busy start to the catastrophe season, and we must remember that these numbers are tied to people who have some of their largest investments and assets impacted. There’s been a significant number of Canadians impacted by severe weather and wildfires this year alone, and up to the end of June, the number of catastrophe claims exceeded 100,000.”

About CatIQ and PERILS

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact

Nigel Allen | +44 7988 478824 | nigel.allen@allenandclapham.com

Categories
Catastrophes CatIQ Announcements

CatIQ Discloses Initial Industry Loss Estimates for Severe Storms in Saskatchewan & Manitoba, Quebec Flooding; Finalizes Loss Estimate for 2024 Toronto Flooding

Toronto, July 15, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its initial industry loss estimates for two severe weather events which impacted the Prairies and Montreal in June, and issued its final loss estimate for the flood event of July 15 and 16, 2024, which affected Toronto and the surrounding area.

On June 9 and 10, a severe storm outbreak generated tornadoes, hail up to 10 cm in diameter, and record-breaking rainfall amounts in southern Saskatchewan and southern Manitoba. CatIQ’s initial estimate for this event is CAD 728 million. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses.

In addition, on June 20 and 21 a series of thunderstorms impacted Montreal’s West Island and points south of the city, flooding hundreds of properties. CatIQ’s initial estimate for this event is CAD 409 million.

The flooding in Montreal is reminiscent of the flash flooding that occurred in Toronto and across parts of southern Ontario on July 15 and 16, 2024. CatIQ has also issued the final loss estimate for this catastrophe, two years post-event, putting the figure at CAD 890 million. This figure has remained stable compared to the one-year post-event figure of CAD 899 million.

The CatIQ subscriber platform includes further data on these and other Canadian catastrophes, including detailed meteorological information including hail sizes, rainfall totals, damage reports, and news items.

In line with the reporting schedule, a second update of the market losses from both the Prairies and Montreal events will be made available 45 days post-event, with the Prairie outbreak update published on July 22, 2026 and the Montreal flooding update published on August 5, 2026.

Laura Twidle, President and CEO of CatIQ, commented: “The second quarter of 2026 started with well above-average catastrophe activity for Canada, with numerous events affecting different regions of the country. Unusually, we saw multiple events make direct hits on population centres, which drove a flurry of activity for the insurance industry.”

Twidle continued: “The summer thus far bears similarities to both 2023, which saw average annual losses but a tremendous number of individual catastrophe events, and 2024, which was the costliest year on record for severe weather-related losses in Canada. It remains to be seen which path the remainder of 2026 may follow.”

About CatIQ and PERILS

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact |

Nigel Allen, +44 7988 478824, nigel.allen@allenandclapham.com

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Catastrophes

CAD 466M – CatIQ Discloses Final Industry Loss Estimate for the Ontario and Quebec Ice Storm of March 2025

Toronto, March 31, 2026 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its fifth and final industry loss estimate for the ice storm that affected Ontario and Quebec between March 28 and 31, 2025.

The fifth estimate, which provides a snapshot of the insurance market one year following the event, is CAD 466 million. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. CatIQ notes a marginal decrease versus the sixth-month estimate of CAD 490 million issued on September 30, 2025, primarily due to a decline in personal lines losses for Ontario.

Detailed meteorological information, including ice accumulation totals, damage reports, and news items, is available via the CatIQ subscriber platform.

A prolonged period of wintry precipitation struck southern Ontario and Quebec between March 28 and 31, 2025. Locations in the Kawarthas region recorded as many as 35 hours of freezing rain and ice accretion of up to 25 mm. The accumulated ice put significant strain on power lines, trees, and other surfaces, causing extensive damage and leaving hundreds of thousands of customers without power. Power disruptions persisted for weeks in the hardest-hit areas.

Ice events are common across the Lower Great Lakes and St. Lawrence regions; one of the most impactful events in Canadian history struck parts of the region in 1998. April is also a common month for these events, with other major storms occurring in April 2018 and 2023.

Caroline Floyd, Director of CatIQ, commented: “This final estimate shows a slight decrease in the personal line losses versus the 6-month mark, which, as noted at the time, demonstrated somewhat above-average growth last autumn. At this point, it seems reasonable to expect that insurers feel comfortable they have received all the outstanding claims, particularly those related to any seasonal access properties, and have released their additional reserves.” Floyd continued: “This supposition is reinforced when one looks at the closed claims information, which shows that more than 90 percent of personal lines claims have been closed. This is in line with what we would generally expect at the one-year mark from an event of this magnitude.”

About CatIQ and PERILS Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact

Nigel Allen, +44 7988 478824, nigel.allen@perils.org

Categories
Catastrophes CatIQ Announcements

CAD 490M – CatIQ Discloses Six-Month Industry Loss Estimate for the Ontario and Quebec Ice Storm of March 2025

Toronto, September 30, 2025 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its fourth industry loss estimate for the ice storm that affected Ontario and Quebec between March 28 and 31, 2025.

The fourth estimate, which provides a snapshot of the insurance market six months post-event, is CAD 490 million. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. CatIQ notes an increase versus the three-month estimate of CAD 416 million, issued July 3, with growth continuing in Ontario personal lines.

Detailed meteorological information, including ice accumulation totals, damage reports, and news items, is available via the CatIQ subscriber platform.

In line with the reporting schedule, a fifth update of the market loss from the ice storm will be made available on March 31, 2026, one year after the event end date.

A prolonged period of wintry precipitation struck southern Ontario and Quebec between March 28 and 31, 2025. Locations in the Kawarthas recorded up to 35 hours of freezing rain and ice accretion of up to 25 mm. The accumulated ice put significant strain on power lines, trees, and other surfaces, causing extensive damage and leaving hundreds of thousands of customers without power. Power disruptions persisted for weeks in the hardest-hit areas.

Ice events are common across the Lower Great Lakes and St. Lawrence regions; one of the most impactful events in Canadian history struck parts of the region in 1998. April is also a common month for these events, with other major storms occurring in April 2018 and 2023.

Caroline Floyd, Director of CatIQ, commented: “Continued creep in the personal line losses highlights the extent of damage across south-central Ontario and southern Quebec, particularly for those homes and vacation properties in more remote areas. Notably, growth in estimated incurred costs continues to outstrip growth in the number of claims, suggesting claims are proving more expensive than initially anticipated in some cases. Certainly, the extent of the increase at this 6-month mark is somewhat out of the norm, but it seems more reasonable when one considers that many of the affected properties may be seasonal access, leaving property owners to only discover the extent of damage during the summer months.”

Floyd added: “It’s possible additional challenges of access – be it delays caused by damage to infrastructure, or just the need to move resources over larger distances – could be exacerbating cost increases. With approximately two-thirds of personal claims now estimated to be closed, it will be interesting to see if we find additional growth between now and the one-year estimate.”

About CatIQ and PERILS

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact

Nigel Allen, +44 7988 478824, nigel.allen@allenandclapham.com

Categories
Catastrophes CatIQ Announcements

CAD 2.806 B – CatIQ Discloses Updated Industry Loss for the Flooding from the Remnants of Hurricane Debby in August 2024

Toronto, August 12, 2025 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its fifth industry loss estimate for the flooding related to the remnants of Hurricane Debby that affected Ontario and Quebec between August 9 and 10, 2024.

The fifth estimate, which provides a snapshot of the insurance market one-year post-event, is CAD 2.806 billion. This figure marks a very slight decrease versus the fourth estimate of CAD 2.817 billion, issued six months following the event. The loss number covers property (both commercial and residential) and vehicle (motor) claims.

The updated loss report provides a detailed breakdown of property and motor losses by FSA (high-resolution CRESTA Zones). Also available via the CatIQ subscriber platform are detailed meteorological information including rainfall totals, damage reports, news items, and images of damage caused by the event.

In line with the reporting schedule, a sixth and final update of the market loss from the remnants of Hurricane Debby will be made available on August 11, 2026, two years after the event.

The remnants of Hurricane Debby crossed through the Lower Great Lakes region between August 8 and 10, 2024. More than 100 mm of rain fell across a large area from eastern Lake Ontario, through Montreal, and along the St. Lawrence River toward Quebec City. The hardest-hit regions of southern Quebec recorded more than 200 mm of rainfall during the event leading to widespread flooding and extensive flood damage.

Caroline Floyd, Director at CatIQ, commented, “Flooding from the remnants of Storm Debby capped off an historic month in Canadian catastrophe history, which saw insured losses surge by tens of thousands of claims and billions of dollars. Similar remnant storms in southern Ontario and Quebec have generated significant losses in the past, but Debby’s extreme rainfall totals drove losses that eclipsed not only all other such storms but also made this event the third most costly on record for Canada. Storm Debby remains the most impactful insured loss event on record for Quebec, even when losses from the 1998 Ice Storm are adjusted for inflation.”

Floyd continued, “The one-year estimate continues to tell the story of significant impacts in Quebec, with only a slight increase in the number of personal and commercial property damage claims. At the same time, we note a slight lowering of the average claim for both lines of business, suggesting some claims may be running up against coverage limits as they are resolved. Indeed, more than 95% of personal property claims are reported as closed at the one-year mark; significantly ahead of 2024’s other large catastrophes.”

About CatIQ and PERILS Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ), a subsidiary of Zurich-based PERILS AG, is Canada’s loss and exposure indices provider, delivering detailed analytical and meteorological information on Canadian natural and human-made catastrophes. Through its online subscription-based platform, CatIQ caters to the needs of the insurance / reinsurance / ILS industries, public sector, and other stakeholders, with comprehensive insured loss and exposure indices and related information. PERILS is an independent Zurich-based organisation providing industry-wide natural catastrophe exposure and event loss data. The PERILS Industry Exposure & Loss Database is available to all interested parties via annual subscription. The use of CatIQ and PERILS exposure and loss data other than in conjunction with a valid License and according to its terms, by a Licensee or an Authorized User as defined in the License, is illegal and expressly forbidden.

More information can be found on www.catiq.com or www.perils.org

PR Contact

Nigel Allen, +44 7988 478824, nigel.allen@perils.org