Montreal flood losses climb to $442 million - CatIQ - Insurance Business

Large hail and wind drove the losses, as a run of 2026 events pushes Ontario catastrophe claims higher The severe storms that hit southern Ontario on September 2 and 3 caused an estimated $563 million in insured losses, according to Catastrophe Indices and Quantification Inc. (CatIQ).

After $563 million in September storm losses, insurers want spending on infrastructure and prevention The Insurance Bureau of Canada (IBC) is calling on governments to spend more on flood prevention and to give Canadians access to flood risk information. It points to the September storms in southern Ontario as the latest warning of rising weather losses.

Losses are increasingly hitting lower-risk areas where insurance take-up can be weakest, says Davies leader Flood risk is becoming harder to confine to the areas brokers and homeowners have historically viewed as most exposed.