CatIQ, the independent Toronto-based catastrophe insurance data provider and subsidiary of PERILS, has released its second industry loss estimate for the severe thunderstorm event that struck parts of southern Ontario and southern Quebec, Canada, between 30 June and 3 July 2026, putting the total insured loss at CAD 439 million.
The second estimate, issued 45 days post-event, represents an increase from the initial CAD 374 million estimate, with the majority of the upward revision driven by losses in commercial lines.
According to CatIQ, the loss number covers property (both commercial and residential) and vehicle (motor) claims, including additional loss adjustment expenses.
Caroline Floyd, Director of CatIQ, commented, “The summer of 2026 has been an especially stormy one for many communities in Canada, with eleven catastrophes related to severe convective storms declared since June.
“Notably, many of these events have featured flash flooding as the main driver for insured losses. In fact, several large population centres, including Edmonton and Ottawa, have already recorded their wettest summers on record, with a little more than a month to go until the end of the season.”
