Keyword
CatIQ
Have insured cat losses already reached $1 billion this year?
September 13, 2019 by Jason ContantThe “alarming trend” towards increasingly severe and frequent weather events causing higher insurance payouts continues in 2019, with close to $900 million in insured losses recorded already so far this year. In 2018, insured damage from severe weather across Canada…
CatIQ acquired by Switzerland-based PERILS
June 17, 2019 by Jason ContantZurich, Switzerland-based PERILS AG announced Monday that it has acquired Catastrophe Indices & Quantification Inc. (CatIQ). Established in 2014, CatIQ is widely recognized as the most reliable source of catastrophe loss and exposure information in Canada. PERILS, a subsidiary of…
March winter storm costs insurers over $124 million
April 12, 2019 by Jason ContantA mid-March winter storm that struck central and eastern Canada caused over $124 million in insured damage, Catastrophe Indices and Quantification Inc. (CatIQ) said Thursday. The storm hit Ontario on Mar. 14 and continued through Quebec, New Brunswick and Nova…
How the cat season so far compares to 2018
March 26, 2019 by Jason ContantIt seems that the Canadian catastrophe season is off to a strong start, with five events so far this quarter compared to the normal one. “I will say that we have had an anomalous start to the year,” said Laura…
Early storm warning for insurers: $40 million for January storm in eastern Canada
March 6, 2019 by Jason ContantA winter storm in late January that brought snowfall, freezing rain, rain and strong winds to eastern Canada caused over $39 million in insured damage, according to Catastrophe Indices and Quantification Inc. (CatIQ). Most of the damage occurred on Jan.…
Two weird things about the 2018 catastrophe season
February 7, 2019 by Jason ContantThe Canadian insurance industry saw a bit of an unusual catastrophe season last year, with more cats in the second quarter than the third, and Ontario beating out Alberta for insured losses. There were a total of 12 catastrophes last…
Summer storms in this Canadian region cost over $200 million in insured damage
September 6, 2018 by Jason ContantSummer storms across the Prairies have caused more than $200 million in insured damage so far this year. This brings total weather-related insured damage on the Prairies to $464 million since May 2017. The numbers from Catastrophe Indices and Quantification…
How much this province’s “historic” flooding will cost the industry
August 14, 2018 by Jason ContantSpring flooding in New Brunswick may have been “historic” and “record-setting,” but it didn’t meet the $25-million threshold of a catastrophe event. Catastrophe Indices and Quantification (CatIQ) told Canadian Underwriter Monday the flooding was a “notable event,” meaning it caused…
How much it cost the industry when baseball-sized hail hit western Canada
July 23, 2018 by Jason ContantA severe storm that affected parts of Saskatchewan and Manitoba in mid-June resulted in more than $90 million in insured damage, according to data released by Catastrophe Indices and Quantification Inc. (CatIQ). Strong winds and large hail – in some…
What insurers paid out for the latest Ontario storm
June 26, 2018 by Jason ContantA brief but powerful thunderstorm that rolled through southern Ontario on June 13 has been declared a notable claims event by Catastrophe Indices and Quantification Inc. (CatIQ). While the storm did not meet the catastrophe threshold of at least $25…
May windstorm largest insured event in Ontario in five years: CatIQ
June 1, 2018 by Jason ContantThe early May windstorm that struck Ontario and parts of Quebec topped $410 million, the costliest insured event since the 2013 Toronto floods, Catastrophe Indices and Quantification Inc. (CatIQ) said Friday. The majority of the damage from the windstorm –…
CatIQ releases updated toll of April ice storm damage
May 10, 2018 by Jason ContantThe mid-April ice storm in southern Ontario and Quebec cost insurers more than $190 million, Catastrophe Indices and Quantification (CatIQ) said Thursday. CatIQ has reported more than 15,000 insurance claims, including 1,800 car collisions, due to the storm. Strong winds,…