The latest industry loss estimate for the August 2024 hailstorm in Calgary stands at C$3.25 bn, according to CatIQ. This fourth estimate, released six months after the event, reflects insured losses for residential and commercial properties, motor vehicles, and additional loss adjustment expenses. The previous estimate, issued 90 days after the storm, was C$2.95 bn.
The figures include claims for commercial and residential property, motor vehicles, and additional loss adjustment expenses.
CatIQ, the independent Toronto-based organisation providing industry-wide catastrophe insurance data and subsidiary of PERILS, has disclosed its fourth industry loss estimate for the hailstorm that affected Calgary.
The updated report details property and motor losses by FSA (high-resolution CRESTA Zones). The CatIQ subscriber platform provides meteorological data, including affected neighborhoods, hail size estimates, damage reports, news updates, and images from the event.
Following the reporting schedule, the fifth loss update will be released on 5 August 2025, marking a year since the hailstorm.
On 5 August 2024, unstable atmospheric conditions led to thunderstorms forming along the southern Alberta foothills and moving eastward with prevailing winds.
Several storm cells produced large hail, reaching baseball size in some areas. One of these cells moved across northern Calgary and Strathmore, causing severe damage to homes and businesses. Hailstones punctured vinyl siding, shattered windows, and damaged roofs, including at Calgary International Airport.
Calgary has seen multiple severe hailstorms in recent years. Events in 2020 and 2021 caused nearly CAD 2,000 mn in insured losses. Each of the three major storms impacted different parts of the city. The 2020 storm primarily affected the northeast, the 2021 storm hit the southern areas, and the 2024 event caused damage in the north.
Calgary experienced one of the most severe hailstorms in its history, which resulted in estimated re/insured losses of C$2.8 bn, according to the Insurance Bureau of Canada (IBC).
Hailstones pummeled homes, vehicles, and even the Calgary International Airport, damaging planes and causing significant disruption to flights. The storm, fueled by a supercell weather system, brought not only hail but also strong winds and heavy rainfall, leading to localized flooding in parts of the city.
This storm caused the second-largest insured loss for Canadian insurers, following the 2016 Fort McMurray wildfire, which resulted in $2.7 bn (C$3.7 bn) in losses. Nearly 20% of homes in Calgary were affected.
Laura Twidle, President and CEO of CatIQ, stated that while the storm was not unusually severe for the region, the damage extent and industry loss highlight how slight shifts in a storm’s path can lead to significant financial impacts. From a meteorological standpoint, nothing suggested this would be one of Canada’s most expensive weather events.
While the storm itself was not unusually severe for the region, the extent of the damage and the scale of the industry loss total reflect how the distance of a few kilometres in the track can result in tremendous loss differences when it comes to severe convective storm.
Laura Twidle, President and CEO of CatIQ
There was nothing apparent about the storm from a meteorological standpoint to suggest it would result in one of the costliest events in Canadian history.
Insured catastrophe losses in Canada reached a record C$8.5 bn in 2024, nearly tripling the prior year’s total and standing 12 times higher than the annual average of C$701 mn recorded in the first decade of the 21st century. This data comes from Catastrophe Indices and Quantification (CatIQ) and the Insurance Bureau of Canada. Beinsure has highlighted the key insights from the IBC report.
Twidle also noted that 2024 was a record loss year for Canada’s insurance industry. Most losses resulted from four events in July and August, but hail damage accounted for a quarter of the year’s twelve significant events. Over the past five years, CatIQ has recorded 30 hail-related catastrophes with losses exceeding CAD 30 mn each, contributing to more than CAD 8,000 mn in insured losses.
A powerful hailstorm struck Calgary, Alberta, on 5 August 2024, causing extensive damage to homes, businesses, and vehicles. The storm developed as unstable atmospheric conditions over the southern Alberta foothills led to intense thunderstorms that moved eastward. Several storm cells produced large hail, with some stones reaching the size of baseballs.
One of the most damaging cells passed over northern Calgary and Strathmore. The storm shattered windows, punctured vinyl siding, and tore apart roofs, including those at Calgary International Airport. Widespread property damage resulted in significant insurance losses.
Calgary has faced multiple severe hailstorms in recent years, including major events in 2020 and 2021. While each storm primarily affected residential areas, their paths varied. The 2020 storm impacted the northeast, the 2021 storm struck the southern part of the city, and the 2024 storm hit the north.
The hailstorm contributed to a record insurance loss year in Canada. Hail-related claims have been a growing concern, with multiple billion-dollar events occurring over the past five years. The 2024 storm reinforced the region’s vulnerability to severe convective weather, highlighting the financial impact of such disasters.
