Hailstorm insured losses hit $2.4 billion

Hailstorm insured losses hit $2.4 billionToronto-based Catastrophe Indices and Quantification Inc. has published a final insurance industry loss estimate of 3.4 billion Canadian dollars ($2.4 billion) for the severe hailstorm that struck Calgary, Alberta, Canada, on Aug. 5, 2024, Artemis reported. The agency has also issued an initial loss estimate of CAD374 million for the severe thunderstorms that affected southern Ontario and southern Quebec between June 30 and July 3, and a second loss estimate of CAD411 million for the Montreal floods between June 20 and 21.