Tag: Catastrophe Indices and Quantification Inc.

Auto Insurance

Disaster Data: Canadian insured losses from catastrophic weather events total record-breaking $8.5 billion in 2024, says CatIQ report

Toronto, Ontario – According to a recent report from Catastrophe Indices and Quantification Inc. (CatIQ), in 2024, insured losses from catastrophic weather events in Canada totalled a record-breaking $8.5 billion. As noted in the report, in addition to the unprecedented losses recorded, the number of total catastrophe claims filed exceeded 273,000—a significant increase from the […]

January 14, 2025

Auto Insurance

Costly Claims: Calgary hailstorm in August results in nearly $2.8 billion in insured damages, says CatIQ estimates

Calgary, Alberta — The Insurance Bureau of Canada (IBC) has indicated that the hailstorm that hit the Calgary, Alberta area in early August has resulted in nearly $2.8 billion in insured losses—the second costliest event in Canada’s insurance history. The storm in question specifically occurred on August 5, 2024, with Environment and Climate Change Canada […]

September 13, 2024

Auto Insurance

Icy Insurance: Deep freeze in Western Canada estimated to have caused over $180 million in insured damages

Edmonton, Alberta — The deep freeze that Western Canada experienced in January is now estimated to have caused over $180 million in insured damages, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). On January 12 in British Columbia, Alberta and Saskatchewan, daytime highs dropped far below the seasonable normal and persisted for […]

March 13, 2024

Auto Insurance

Flash-Flooding Fees: Severe summer storms in Ontario cause over $340 million in insured damages

Toronto, Ontario – According to early estimates from Catastrophe Indices and Quantification Inc. (CatIQ), as referenced by the IBC, the severe storms and flash-flooding that hit parts of Southern Ontario over the summer have resulted in over $340 million in insured losses.  Of this total amount, over $80 million—or close to 25 percent—went towards replacing […]

October 20, 2023

Auto Insurance

Holy Hail: Calgary hailstorm caused $247 million in insured damage, according to estimates

Calgary, Alberta — The hail storm that hit Calgary over a month ago caused $247 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ).  On July 2, Calgary experienced extensive flooding of streets, underpasses, and parking lots. There were also reports of a damaged gas line, downed trees, and sewer […]

August 5, 2021

Auto Insurance

March Madness: Storm in March caused $50-million in insured damage in eastern Canada

Toronto, Ontario —  A storm that moved across eastern Canada from March 26 to 29, caused $50 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ).  Damage reports associated with the storm that brought heavy rain and strong winds spanned the region, from basements being flooded in southern Ontario […]

May 18, 2021