CatIQ has released its third industry loss estimate for the ice storm that impacted Ontario and Quebec from March 28 to 31, 2025, placing insured losses at $416 million.
The estimate includes residential, commercial and motor claims, along with loss adjustment expenses. According to the Toronto-based catastrophe data provider, the figure reflects continued growth in personal lines claims, while commercial and motor claims have shown limited change since the previous update. Earlier estimates stood at $342 million and $402 million.
The storm brought prolonged freezing rain across southern Ontario and Quebec. In the Kawarthas, some areas recorded up to 35 hours of freezing rain, with ice accretion reaching 25 mm. The storm caused widespread damage to trees, power infrastructure and other property, leading to extended power outages in several communities.
“While we typically expect to see increases in claims numbers slow by the 90-day mark, the continued growth in personal claims is not surprising, given the location of the most significant damage,” said Caroline Floyd, director of CatIQ. “It is understandable that there may have been delays in reporting damage from cottage or holiday properties that were only more recently re-opened for the summer season.”
Ice-related weather events occur regularly in the Lower Great Lakes and St. Lawrence regions. Significant storms have previously occurred in April 2018 and 2023. The 1998 ice storm remains one of the most disruptive weather events in Canadian history.
CatIQ plans to release a fourth and final market loss estimate on September 30, 2025, in line with its standard six-month reporting schedule. The estimate will reflect the insurance industry's final assessment of the event’s financial impact.
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