CatIQ, a Toronto-based independent catastrophe insurance data provider and subsidiary of PERILS, has released its fifth industry loss estimate for the hailstorm that affected Calgary, Alberta, on 5th August 2024, raising the total to CAD 3.29 billion.
This marks a slight increase from the fourth estimate, issued six months after the event, which stood at CAD 3.25 billion.
The loss figure covers property (both commercial and residential) and vehicle (motor) claims, including additional loss adjustment expenses.
The latest estimate was released one year after the event, with a sixth update scheduled for 5th August 2026, twenty-four months after the storm.
As a reminder, on 5th August 2024, severe thunderstorms developed over southern Alberta and moved east, producing significant and damaging hail, strong winds, heavy rain, and localised flooding in parts of Calgary.
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Notably, one storm cell moved across northern Calgary and neighbouring Strathmore, causing severe damage to homes and businesses. Hailstones punched holes in vinyl siding, shattered windows, and heavily damaged roofs—including that of Calgary International Airport.
Laura Twidle, President and CEO of CatIQ, commented, “This estimate update showed small growth overall, with the changes mostly due to a larger increase in incurred losses in personal lines than the reduction in auto incurred. Nearly 85% and 90% of personal and auto claims, respectively, are closed indicating that a large number of claims were closed in the last six months as both were around 60% closed at the previous update.
“So far in 2025, the industry has recorded one Calgary hailstorm which occurred on 13 July, and the estimate should go out to subscribers shortly. This storm tracked just south of the 2024 storm, and the loss is not expected to be near last year’s event, fortunately.”
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