Calgary hailstorm costliest in record year of weather-related losses, report says
In a year that saw Canada set a new record for insured losses due to severe weather at $8.55 billion, Alberta topped the list.
The Calgary hailstorm in August was the most destructive weather event of 2024. It damaged homes, businesses, cars and the Calgary International Airport, resulting in $3 billion in insured losses, according to Catastrophe Indices and Quantification Inc. (CatlQ).
That topped damages from the forest fire in July that tore through the town of Jasper, Alta. About a third of the buildings in the community were destroyed. CatIQ’s report lists the insured losses from the Jasper wildfire at $1.1 billion.
“In Jasper, it was the intensity of the damage and the totality of the damage,” said Aaron Sutherland, regional vice-president with the Insurance Bureau of Canada.
“In Calgary, it was the scope and the sheer size and volume of claims that came forward that led to it being the largest event of last year.”
There were 130,000 insurance claims filed in a single day as a result of the Aug. 5 hailstorm in Calgary.
“That was unprecedented,” Sutherland said.
He added that people are still working through the claims process for properties as a result of the hailstorm, but most of the auto insurance claims have been resolved with a large portion of vehicles ultimately written off.
The national total from last year easily surpassed the previous record of $6.2 billion when another Alberta disaster was the most notable weather-related catastrophe — the Fort McMurray fire in 2016.
“The unfortunate reality is what we’ve seen last year, which is the costliest year as it relates to natural disasters in Canada’s history, that is simply the latest in a growing trend,” Sutherland said.
“Nowhere does that touchdown more than right here in Alberta.”
Beyond the province, other events across the country contributed to the record total, including the Toronto and GTA flash floods in July at $990 million and the remnants of Hurricane Debby in Quebec in August at $2.7 billion.
“Sadly, beyond the staggering financial losses are hundreds of thousands of Canadians whose lives and livelihoods have been upended,” said Celyeste Power, president and CEO of the Insurance Bureau of Canada.
“Canada’s property and casualty insurers have been there every step of the way, and continue to be on the ground, helping their customers rebuild and recover. The industry is doing its part, but it’s time for governments to take decisive action to protect Canadians from these escalating and dangerous events.”
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