CAD 3.29 B – CatIQ Discloses Updated Industry Loss for the Calgary Hailstorm of August 5, 2024
Toronto, August 6, 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 hailstorm that affected Calgary, Alberta, on August 5, 2024.
The fifth estimate, which provides a snapshot of the insurance market one-year post-event, is CAD 3.29 billion. The fourth loss estimate, issued six months after the event, was CAD 3.25 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). Also available via the CatIQ subscriber platform is detailed meteorological information including affected neighbourhoods, hail size estimates, damage reports, news items, and images of damage caused by the event.
In line with the reporting schedule, a sixth update of the market loss from the hailstorm will be made available on August 5, 2026, two years after the event.
Unstable atmospheric conditions on August 5, 2024 saw thunderstorms develop along the southern Alberta foothills and drift eastward with the prevailing winds. Several of these discrete storm cells produced very large hail, up to the size of baseballs in some cases. One such storm cell moved across northern Calgary and neighbouring Strathmore, causing significant damage to homes and businesses. Hailstones punched holes in vinyl siding on homes, broke windows, and severely damaged roofs, including that of the Calgary International Airport.
Calgary has experienced a number of severe storms featuring extensive hail damage in recent years, with especially severe events in both 2020 and 2021 which together generated nearly CAD 2 billion in insured losses. Of note is the fact that, while all three damaging storm cells impacted primarily residential areas, they each traversed different parts of the city. Damage in 2020 occurred mainly in the northeast, the 2021 storm affected primarily the southern tier, and the 2024 storm impacted the northern part of the city.
Laura Twidle, President and CEO of CatIQ, commented, “This estimate update showed small growth overall, with the changes mostly due to a larger increase in incurred losses in personal lines than the reduction in auto incurred. Nearly 85% and 90% of personal and auto claims, respectively, are closed indicating that a large number of claims were closed in the last six months as both were around 60% closed at the previous update.”
Twidle continued, “So far in 2025, the industry has recorded one Calgary hailstorm which occurred on July 13, and the estimate should go out to subscribers shortly. This storm tracked just south of the 2024 storm, and the loss is not expected to be near last year’s event, fortunately.”
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