FSA-Level Industry Loss Estimates Released for Fort McMurray Wildfire and May 2018 Southern Ontario and Quebec Windstorm


Toronto (August 23, 2018) – Catastrophe Indices & Quantification Inc. (CatIQ) today released its first insurance industry loss estimates at the level of Canada Post Forward Sortation Areas (FSAs), for the Fort McMurray Wildfire and the May 2018 Southern Ontario and Quebec Windstorm. Primary insurers participating with CatIQ’s Industry Exposure Database (IED) were surveyed to produce these estimates, 2 years after the wildfire and 90 days after the windstorm. Subscribers to CatIQ’s IED can now compare estimates of the insurance industry’s property exposure and loss by FSA for these events.

For the IED, CatIQ produces estimates of the Canadian insurance industry’s property exposure and loss at the FSA level. The exposure estimates are by:

  • FSA
  • Peril (windstorm, hail, fire, flood, sewer back-up, earthquake, and volcanic eruption)
  • Line of business (personal, commercial, and motor hull)
  • Cover type (building, vehicle, contents, business interruption, and additional living expense, where applicable)
  • Year (2016 and 2017 year-end are currently available)

The FSA-level loss estimates are as follows:

  • The same perils, lines of business and cover types as listed above
  • Any catastrophe that results in an industry loss greater than C$300 million
  • At three months, 6 months, 1 year and, if industry loss exceeds C$500 million, 2 years after the event

CatIQ’s IED launched in June 2018 and is based on detailed submissions from a majority of the Canadian insurance market. It was developed with the support of the Canadian P&C industry and in partnership with Zurich-based PERILS AG. Consistent with PERILS’ methodology, CatIQ will release new exposure estimates annually each spring.

The IED is available as an add-on to CatIQ’s existing services, heralded as the most reliable source of catastrophe loss information in Canada. Primary insurers participating in the IED program receive the IED at no extra charge. Furthermore, CatIQ’s IED will be made available on the PERILS platform.

CatIQ also hosts the annual Canadian catastrophe conference, CatIQ Connect, formerly C4. The highly anticipated event will take place at the Metro Toronto Convention Centre February 4-6, 2019. CatIQ Connect is a content-driven conference designed to foster collaboration between sectors relating to Canadian catastrophes with an objective to mitigate the impacts of extreme events on communities and organizations.

CatIQ Connect keynotes:

  • Howard Kunreuther, Co-Director of the Wharton Risk Management and Decision Processes Center, University of Pennsylvania, will present The Ostrich Paradox: Why We Underprepare for Disasters
  • Henk Ovink, Special Envoy for International Water Affairs for the Kingdom of Netherlands, in a fireside chat with The Co-operators’ President & CEO, Rob Wesseling
  • Ed Struzik, a Canadian author and photographer, will present a view of how wildfires will shape the future

CatIQ Connect Agenda Highlights:

  • Interactive Workshop
  • Climate Concerns in Financial Services
  • Lessons Learned on Hurricanes
  • Meltdown: A Nuclear Catastrophe
  • Local Perspectives on Recent Events
  • Are Critical Services Adapting?
  • Risk Communication and Personal Perception
  • Codes and Standards
  • Mortgage Impairment Due to Earthquake Loss
  • New Technologies and Techniques
  • A Scientific View of Climate Change

To register for CatIQ Connect 2019 in Toronto, or to keep up to date on the latest announcements, visit www.catiq.com/connect or follow CatIQ on Twitter at @CatIQ_Inc or through the hashtag #CatIQConnect.

Download the full PDF press release.

About CatIQ

Toronto-based Catastrophe Indices and Quantification Inc. (CatIQ) delivers detailed analytical and meteorological information on Canadian natural and man-made catastrophes. Through its online subscription-based platform, CatIQ combines comprehensive insured loss and exposure indices, meteorological and GIS analytics and other related information to better serve the needs of the insurance / reinsurance / ILS industries, the public sector and other stakeholders. CatIQ was established in 2014 with the support of the overwhelming majority of the Canadian insurance/reinsurance industry and is widely recognized as the most reliable source of Cat loss information in Canada. CatIQ is affiliated with MSA Research Inc., Canada’s dominant provider of financial analytics covering the P&C and Life/Health insurance sectors. CatIQ also hosts the annual Canadian catastrophe conference, CatIQ Connect, which will next run Feb 4-6, 2019 in Toronto.

More information can be found at www.catiq.com.