CatIQ increases Ontario & Quebec ice storm loss estimate to CAD 416m

CatIQ, a Toronto-based independent catastrophe insurance data provider and a subsidiary of PERILS, has released its third industry loss estimate for the ice storm that impacted Ontario and Quebec from March 28 to 31, 2025, with losses now standing at CAD 416 million.

The event involved a prolonged period of wintry precipitation across southern Ontario and Quebec, with areas in the Kawarthas experiencing up to 35 hours of freezing rain and ice accretion of up to 25 mm.

CatIQ reported that the accumulated ice placed significant strain on power lines, trees, and other surfaces, causing widespread damage and leaving hundreds of thousands of customers without power. Outages persisted for weeks in the hardest-hit areas.

According to electricity provider Hydro One, more than 300,000 Canadians in parts of Ontario experienced power outages on Sunday, March 30.

Environment Canada issued winter storm warnings for freezing rain in Ottawa and other parts of Quebec and Ontario.

CatIQ’s loss estimate covers property (both commercial and residential) and vehicle (motor) claims, including additional loss adjustment expenses.

This 90-day estimate reflects continued growth in personal lines, while commercial and motor lines appear to have stabilised. It follows the initial estimate of CAD 342 million released on April 30, and a second estimate of CAD 402 million on May 15.

CatIQ noted that a fourth market loss update for the ice storm will be published on September 30, 2025—six months after the event’s end date.

Caroline Floyd, Director of CatIQ, said, “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. 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.”

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