Reinsurance News
Catastrophe Indices and Quantification Inc.
Hurricane Debby caused $2.5bn in insured damage in Quebec: CatIQ
16th September 2024
According to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ), the remnants of Hurricane Debby, which hit southern Quebec on August 9-10, caused nearly $2.5 billion in insured damage, making it the costliest event in Quebec’s history. Johanne Lamanque, Vice-President, Quebec at Insurance Bureau of Canada (IBC), stated, “The record-breaking ... Read the full article
Nova Scotia flooding causes over $170m in insured damage: IBC
29th August 2023
Citing initial estimates from CatIQ, the Insurance Bureau of Canada (IBC) has reported that the flooding in Nova Scotia on July 23 is estimated to have caused over $170 million in insured damage. According to IBC, this severe weather event produced more than 250 millimetres of rain in the hardest hit ... Read the full article
Canadian insured losses from cat events total $3.1bn in 2022: CatIQ
19th January 2023
Canada's 2022 catastrophic events have caused insured losses of over CAN $3 billion, a mark that hasn’t been reached since 2016 when a wildfire devastated Fort McMurray, AB, says Catastrophe Indices and Quantification Inc. (CatIQ). There was a total of 15 events which incurred at least $30 million in insured losses ... Read the full article
Hurricane Fiona insured damage estimate now pegged at over $800m: CatIQ
6th January 2023
Insured damages from Hurricane Fiona are now estimated at over $800 million, according to Catastrophe Indices and Quantification Inc. (CatIQ), as it remains the most costly extreme weather event ever recorded in Atlantic Canada. CatIQ has reported that the event is now the seventh largest in Canada's history in terms of ... Read the full article
Insured weather losses across Canada reach $1.9bn in 2018: Cat IQ
21st January 2019
Severe weather across Canada resulted in approximately $1.9 billion of re/insured losses in 2018, according to data from Catastrophe Indices and Quantification Inc. (Cat IQ). The Insurance Bureau of Canada (IBC) noted that 2018 had the fourth-highest amount of losses on record, with ice storms, floods, windstorms and tornadoes damaging homes, ... Read the full article
April/May flooding in Quebec & Ontario results in over CA$223mn insured loss: IBC
4th September 2017
Two storms and subsequent major flooding in parts of Ontario and Quebec in early April, combined with a severe flooding event in the regions during early May, 2017, has resulted in an insurance industry loss of over CA$223 million (US$179 million), reports the Insurance Bureau of Canada (IBC). This is according ... Read the full article
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