CatIQ, the Toronto-based catastrophe data provider and subsidiary of PERILS, has issued its fifth industry loss estimate for the hailstorm that struck Calgary and parts of southern Alberta on August, 5, 2024.
The updated figure places insured losses at $3.29 billion, a modest increase from the $3.25 billion reported in February.
The estimate includes insured losses across residential, commercial, and motor lines, along with associated loss adjustment expenses. The update provides a detailed breakdown of property and auto claims by Forward Sortation Area (FSA), along with meteorological data and damage reports, available via the CatIQ subscriber platform.
The August 2024 storm developed along the Alberta foothills under unstable atmospheric conditions and moved eastward, producing several storm cells with large hail. One cell passed over northern Calgary and Strathmore, causing extensive damage to homes, vehicles, and infrastructure, including parts of Calgary International Airport.
In a statement, CatIQ President and CEO Laura Twidle said the increase in estimated losses was largely driven by personal lines.
“Nearly 85% and 90% of personal and auto claims, respectively, are closed, indicating that a large number of claims were resolved in the last six months,” Twidle said. At the previous update, only about 60% of claims had been closed.
The 2024 event is one of several damaging hailstorms to hit Calgary in recent years. Severe storms in 2020 and 2021 generated nearly $2 billion in insured losses. While each event primarily affected residential areas, the storm tracks differed: the 2020 storm hit the northeast, the 2021 storm struck the south, and the 2024 event impacted the city’s northern areas.
A sixth and final loss estimate for the 2024 hailstorm is expected on August 5, 2026, two years after the event.
Twidle also noted that another hailstorm occurred in Calgary on July 13, 2025, tracking just south of the 2024 storm’s path. While details are still emerging, the loss is not expected to approach last year’s figures.
