CAD 416M – CatIQ Discloses 90-day Industry Loss Estimate for the Ontario and Quebec Ice Storm of March 2025
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