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CatIQ sets initial insured losses for June 2026 Canadian storms
CatIQ pegged the southern Saskatchewan and Manitoba tornado, hail, and rainfall event at CAD 728 million in initial insured losses, covering property, motor, and loss adjustment expenses.
CatIQ, a Toronto-based catastrophe insurance data provider and a subsidiary of PERILS, has issued initial industry insured loss estimates for two severe weather events that hit Canada in June 2026, and it confirmed its final estimate for a past Toronto flooding episode. The firm also flagged that it will publish follow-up updates on its reporting timetable after each event.
According to CatIQ, storms that moved across southern Saskatchewan and southern Manitoba on June 9 and 10 produced tornadoes, hail up to 10 cm in diameter, and record-breaking rainfall. Its initial industry loss estimate for that Prairie event totals CAD 728 million, with losses expected to span commercial and residential property claims, motor claims, and additional loss adjustment expenses.
CatIQ also provided an initial estimate for thunderstorms that affected Montreal’s West Island and areas south of the city on June 20 and 21. It estimated insured losses at CAD 409 million, citing widespread flooding and hundreds of affected properties, and said the Montreal flooding resembled the flash flooding that struck Toronto and parts of southern Ontario on July 15 and 16, 2024.
For the Toronto flooding, CatIQ confirmed its final industry loss estimate at CAD 890 million, and said the figure remains broadly stable versus the one-year post-event estimate of CAD 899 million. CatIQ added that the second update for the Prairie storms is scheduled for July 22, 2026, and the Montreal flooding update is due August 5, 2026.