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CatIQ
Price tag for the insured wildfire losses in Northwest Territories
November 20, 2023 by David GambrillInsured wildfire damage in Hay River and Yellowknife, NWT, during the summer — which led to Canada’s largest evacuation ever — cost the P&C insurance industry a total of more than $60 million, Catastrophe Indices and Quantification (CatIQ) Inc. reported…
What the Nova Scotia wildfire cost the P&C industry
July 5, 2023 by David GambrillNova Scotia’s Tantallon wildfire is estimated to have caused more than $165 million in insured damage, according to initial estimates from Catastrophe Indices and Quantification Inc. (CatIQ). Nearly 90% of all claims related to the Nova Scotia wildfire were personal…
Claims to expect in Canada after a rough winter in March
March 17, 2023 by Alyssa DiSabatinoParts of Canada have been hit with several major snowstorms in succession this winter, and while none of the severe storms individually will likely be declared catastrophes (i.e. resulting in more than $30 million of insured damage), they may be…
How much did December’s ‘bomb cyclone’ cost Canadian insurers?
January 5, 2023 by Jason ContantThe ‘bomb cyclone’ that ripped through eastern Canada during the holiday season has been declared a catastrophe, Catastrophe Indices and Quantification Inc. (CatIQ) confirmed to Canadian Underwriter Thursday. The winter storm brought heavy snowfall, strong winds and blizzard conditions to…
Fiona officially the costliest extreme weather event in Atlantic Canada
October 19, 2022 by Jason ContantHurricane Fiona is the costliest extreme weather event ever recorded in Atlantic Canada, at $660 million in insured damage, according to preliminary estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The long-lived and powerful storm on Sept. 24 is also…
Here’s how much western Canada’s summer storms cost the industry
September 20, 2022 by Alyssa DiSabatinoSix summer storms across western Canada in July and August will cost the industry approximately $900 million in insured damages — meaning the industry is almost halfway to last year’s total insured damages of $2 billion from these events alone.…
Meet CatIQ’s new president and CEO
June 28, 2022 by Jason ContantLaura Twidle will be the new president and CEO of Catastrophe Indices & Quantification Inc. (CatIQ), taking over from company founder and well-known insurance industry figure Joel Baker on July 1. Twidle has served as CatIQ’s managing director since 2019.…
Cat trends: How 2021 deviated from the norm
February 22, 2022 by Jason ContantLast year saw a shift from “normal” catastrophic losses by quarter and even geographical location, data from Catastrophe Indices and Quantification Inc. (CatIQ) show. Both the third and fourth quarters of 2021 had “well above average” average catastrophes in terms…
The insured damage cost of December’s windstorm in eastern Canada
January 13, 2022 by Alyssa DiSabatinoThe windstorm that swept across Ontario, Quebec and the Atlantic provinces between Dec. 11 and 14 caused more than $152 million in insured damage, according to estimates from Catastrophe Indices and Quantification Inc. (CatIQ). The eastern Canada windstorm brought strong…
What Intact paid for Cats last quarter
January 12, 2022 by Jason ContantIntact paid out an estimated $186 million for catastrophe losses in 2021 Q4, the company reported. “Approximately 55% of the catastrophe losses were in our Canada segment, with half in personal property,” IFC says in a press release. “This mostly…
Can we blame climate change for B.C. ‘atmospheric river?’
December 2, 2021 by Greg MeckbachWe can’t say for sure that climate change has caused the heavy rainfall and severe floods and landslides currently affecting British Columbia, but global warming is making disasters like this more likely, a Swiss Re speaker suggested Thursday. “Warmer air…
Hurricane Larry will probably cost the industry this much
October 27, 2021 by Greg MeckbachInsurers will probably pay out $25 million towards claims from Hurricane Larry. That is the initial estimate from Catastrophe Indices and Quantification Inc. (CatIQ), the Insurance Bureau of Canada said Wednesday in a press release. Hurricane Larry made landfall on…