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