Author: Caroline Floyd

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

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

Toronto, July 25, 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 wildfire complex that affected Jasper, Alberta, between July 22 and August 17, 2024.

The fifth estimate, which provides a snapshot of the insurance market one-year post-event, is CAD 1.313 billion. This compares to the fourth loss estimate of CAD 1.233 billion, issued six months after the event. The loss number covers property (both commercial and residential) and vehicle (motor) claims, with commercial changes leading to the increase between estimates.

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 event information including fire perimeter updates, evacuation dates, damage reports, news items, and images of damage caused by the fire.

In line with the reporting schedule, a sixth and final update of the market loss from the Jasper wildfire will be made available on July 22, 2026, two years after the event start date.

On July 22, 2024, Parks Canada announced they were responding to multiple new fire starts in Jasper National Park. Two fires, burning south and northeast of the Jasper townsite, were of particular concern given their proximity to the community and the very dry, windy conditions, prompting officials to issue evacuation orders for all of Jasper. Driven by strong southerly winds, the South Fire reached the Jasper townsite by the evening of July 24 and damaged or destroyed 358 of the town’s 1,113 structures.

Canada has recorded at least one fire-related catastrophe each year since 2021, including several new events declared in 2025. In fact, including the Jasper event, ten fire-related catastrophes have been declared since 2023, affecting four provinces and one territory. The Jasper fire remains, by far, the costliest of the group, with a total loss only slightly lower than the cumulative total of the other nine events.

Laura Twidle, President and CEO of CatIQ, commented, “The Jasper wildfire remains a stark reminder that a fire does not need a massive footprint to cause significant losses. In a year that featured a string of record-breaking loss events, the Jasper fire maintains the highest average claim for both personal and commercial property. In fact, these averages are the highest out of the more than 200 events in the CatIQ catastrophe loss database.”

Twidle continued, “At the mid-year point, 2025 is on track to be one of the worst fire seasons ever for the country, with more than 5.5 million hectares burned as of mid-July; more than double the 10-year average. Where the year will land in terms of insured losses remains to be seen, but indications are that, especially in western Canada, we will see similarly hot and dry conditions for the rest of the summer.”

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 organization 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

Toronto, July 16, 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 flash flooding that occurred in southern Ontario on July 15 and 16, 2024.

The latest estimate, which provides a snapshot of the insurance market one-year post-event, is CAD 899 million. This compares to the fourth loss estimate of CAD 991M issued by CatIQ on January 17, 2025. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. Personal property-related losses represent the majority of the figure, accounting for more than 85 percent of the total claims and more than 75 percent of the total loss.

In line with the reporting schedule, a sixth and final update of the market loss from the flooding will be made available on July 16, 2026, two years after the event end date.

On July 15 and 16, 2024, heavy rainfall sparked extensive flash flooding in southern Ontario, including Toronto

and the Greater Toronto Area. Two-day rainfall amounts exceeded 120 mm in some places, including at Toronto Pearson Airport (123 mm). The excessive rainfall was driven by a stationary boundary stretching from northern Quebec through the Upper Great Lakes and down to Colorado. The prevailing flow at the surface was out of the southern USA, streaming moisture from the Gulf of Mexico northward.

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

Caroline Floyd, Director of CatIQ, commented, “The one-year data shows a modest decrease in the number of personal claims but a noticeable drop in the incurred costs, along with a corresponding decrease of about nine percent in the average personal claim size. That suggests that, in addition to companies releasing reserve amounts, some claims may have been feeling the effects of policy and coverage limits as they’ve been resolved. With about 90 percent of total claims reporting as closed as of the one-year mark, it will be interesting to see if those yet-outstanding claims follow the same trend by the final loss estimate issued next 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@perils.org

Toronto, July 2, 2025 – CatIQ, the independent Toronto-based organization providing industry-wide catastrophe insurance data and subsidiary of PERILS, has today disclosed its third industry loss estimate for the ice storm that affected Ontario and Quebec between March 28 and 31, 2025.

The third estimate, which provides a snapshot of the insurance market 90-days post-event, is CAD 416 million. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. This 90-day estimate shows continued growth in personal lines, while commercial and motor trends appear to have stabilized. This compares to the estimates of 342 million and 402 million which were issued on April 30 and May 15, respectively.

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 fourth update of the market loss from the ice storm will be made available on September 30, 2025, six months 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 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: “While we typically expect to see increases in claims numbers slow by the 90-day mark, the continued growth in personal claims is not surprising, given the location of the most significant damage. It is understandable that there may have been delays in reporting damage from cottage or holiday properties that were only more recently re-opened for the summer 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@perils.org

Toronto, May 15, 2025 – 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 ice storm that affected Ontario and Quebec between March 28 and 31, 2025.

The second estimate, which provides a snapshot of the insurance market 45-days post-event, is CAD 402 million. The loss number covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses. This 45-day estimate shows development primarily in personal and automotive lines of business.

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 third update of the market loss from the ice storm will be made available on July 2, 2025, three months after the event end date.

A pair of low-pressure systems crossing central and southeastern Ontario and southern Quebec resulted in a prolonged period of wintry precipitation between March 28 and 31, 2025. Locations in the Kawarthas recorded as many as 35 hours of freezing rain and ice accretion up to 25 mm. The weight of the ice put significant strain on power lines and trees, causing extensive damage.

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.

Laura Twidle, President and CEO of CatIQ, commented: “The average claim for personal property remains close to CAD 25,000 for this event, while previous similar events saw average claims closer to CAD 15,000, underscoring the severity of damage related to this storm. Damage to infrastructure also left many hydro customers in Ontario without power for a week or longer, adding widespread business interruption and the loss of frozen and refrigerated items to the physical property damage toll.”  

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 organization 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

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

Toronto, February 13, 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 flooding related to the remnants of Hurricane Debby that affected Ontario and Quebec between August 9 and 10, 2024.

The fourth estimate, which provides a snapshot of the insurance market six months post-event, is CAD 2.817 Billion. This reflects a modest increase from the third loss estimate of CAD 2.767 billion, issued 90 days 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 fifth update of the market loss from the remnants of Debby will be made available on August 8, 2025, twelve months after the event end date.

The tropical depression that became Hurricane Debby formed on August 1, 2024, passing over the western Caribbean and southeastern US before being caught up in a large atmospheric trough on August 7. This trough steered the now post-tropical cyclone toward the Great Lakes, and the remnant low brought significant rainfall to eastern Ontario and southern Quebec. Rainfall totals between August 8 and 10 topped 100 mm across a large area extending from eastern Lake Ontario, through Montreal, and along the St. Lawrence River toward Quebec City. Widespread flooding and extensive flood damage resulted, with the hardest-hit regions in southern Quebec seeing more than 200 mm of rainfall from the event.

Caroline Floyd, Director at CatIQ, commented, “While Atlantic Canada is the more obvious target for tropical cyclone activity in Canada, southern Ontario and southern Quebec often see the impacts of remnant storms, many of which follow similar paths to Storm Debby. Ushered up the eastern third of the US by the jet stream, these remnant cyclones funnel substantial atmospheric moisture into the Great Lakes – St. Lawrence River Basin. In fact, since 2010, the insured losses from other remnant tropical storms in Ontario and Quebec have totaled more than CAD 500 million. Prior to Debby, the largest tropical storm-related event for Quebec stemmed from the remnants of Storm Irene (2011), which at the time caused some CAD 101 million in insured losses. For comparison, the rainfall from Irene reached only 68 mm in Montreal, versus Debby’s 154 mm.”

Floyd, continued, “The remnants of Hurricane Debby were especially impactful for residents of Quebec, where more than 75,000 claims for personal property damage were filed. The average personal property claim size was not all that different from the flooding event in southern Ontario in July 2024, but the number of claims filed vastly differs, with Storm Debby generating nearly four times the number of claims as the Toronto flash flooding.”

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

Toronto, February 10, 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 hailstorm that affected Calgary, Alberta, on August 5, 2024.

The fourth estimate, which provides a snapshot of the insurance market six months post-event, is CAD 3.253 billion. The third loss estimate, issued 90 days following the event, was CAD 2.948 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 fifth update of the market loss from the hailstorm will be made available on August 5, 2025, twelve months 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, “While the storm itself was not unusually severe for the region, the extent of the damage and the scale of the industry loss total reflect how the distance of a few kilometres in the track can result in tremendous loss differences when it comes to severe convective storm. There was nothing apparent about the storm from a meteorological standpoint to suggest it would result in one of the costliest events in Canadian history.”  

Twidle continued, “The insurance industry experienced a record loss year in Canada in 2024 and, while the majority of those losses stemmed from four events in July and August, of the year’s twelve total events, one quarter involved hail damage – an important reminder of the industry’s exposure to this peril. In the past five years, CatIQ has declared 30 catastrophes relating to hail with losses exceeding CAD 30 million, accounting together for more than CAD 8 billion in insured losses for the industry.”

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 organization 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