CAD 342M – CatIQ Discloses Initial Industry Loss Estimate for the Ontario and Quebec Ice Storm of March 2025
Toronto, April 30, 2025 – 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 ice storm that affected Ontario and Quebec between March 28 and 31, 2025.
The initial estimate, which provides a snapshot of the insurance market three weeks post-event, is CAD 342 million. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses.
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 second update of the market loss from the ice storm will be made available on May 15, 2025, 45 days after the event end date.
Late March 2025 saw an active storm track positioned over the Great Lakes as the jet stream started to retreat to its more northerly, warm-season position. A pair of low-pressure systems steered through the region, bringing a surge of milder air into conflict with the cold air entrenched at the surface over central and southeastern Ontario and southern Quebec, resulting in a prolonged period of wintry precipitation between March 28 and 31, 2025.
The hardest hit area was to the north and northeast of Toronto, over the slightly higher terrain of the Kawarthas, Muskoka, and Haliburton regions, where some locations recorded up to 35 hours of freezing rain. Ice accretion on surfaces was significant, with up to 25 mm reported in Lindsay and Peterborough, and 20 mm in Ontario. In Quebec, Québec City reported roughly 12 hours of freezing rain, while the Montreal and Trois-Rivières area saw approximately eight hours.
Southeastern Ontario and southern Quebec are exposed to significant ice storms, with one of the most impactful events in Canadian history striking parts of the region in 1998. April is also a common month for ice events across the Lower Great Lakes and St. Lawrence regions, with two major events occurring in April 2018 and 2023. CatIQ also recorded ice storm catastrophes in this region in 2013 and 2016.
Laura Twidle, President and CEO of CatIQ, commented: “While the loss figures for this event and the 2023 storm are remarkably similar, the details paint a different picture of the impacts. In particular, the average personal claim for this storm is approximately CAD 24,000, whereas in 2023 it was closer to CAD 13,000. A possible factor in this is the duration of the power outages; the event in March heavily impacted relatively remote areas, making access difficult for restoration crews.”
Twidle continued “Even for a region prone to ice events, the prolonged duration of the freezing rain made this storm particularly impactful to local infrastructure, with nearly 2,000 broken power poles identified. More than 100,000 Hydro customers in Ontario were without power for days, and a portion of these outages continued for several weeks, meaning the storm caused not only significant physical damage to properties, but also widespread business interruption and the loss of frozen and refrigerated items.”
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