CatIQ, a Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has released its initial industry loss estimate for the severe storm outbreak that affected southern Ontario, including Toronto, on 2 and 3 September 2026, placing insured losses at CAD 563 million.
On 2 and 3 September, a late-season severe storm outbreak swept across southern Ontario. Very large hail, damaging wind gusts and torrential rain affected the region from Windsor to Ottawa, resulting in multiple confirmed tornadoes and downbursts.
CatIQ noted that Toronto was among the hardest-hit locations, with hail the size of ping pong balls and wind gusts that buckled the side of a large stadium complex. Flash flooding also closed major roadways, leaving motorists stranded and in need of rescue.
CatIQ’s loss estimate of CAD 563 million provides a snapshot of the insurance market three weeks after the event.
The loss figure covers property, including commercial and residential, and vehicle (motor) claims, including additional loss adjustment expenses.
Caroline Floyd, Director of CatIQ, commented, “Southern Ontario is no stranger to severe thunderstorms, though it is rare to see storms of this intensity – particularly those featuring large hail – make a direct hit on Toronto. While there was certainly flooding reported with this event, including some severe flooding in Vaughan to the north of Toronto, wind and hail damage played a bigger role this time, versus an event like the flash flooding in 2024. Notably, the average personal and auto claims are also currently lower for this event than the 2024 flooding. It will be interesting to watch the development of this estimate as the industry continues to process and resolve claims.”
