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CatIQ, a Toronto-based organisation providing industry-wide catastrophe insurance data and a subsidiary of PERILS, has disclosed its third industry loss estimate for the June 2026 flooding event in Canada, which impacted Montreal’s West Island and the surrounding area, placing the total at CAD 442 million.
CatIQ said this third estimate gives a snapshot of the market 90 days post-event and covers property and vehicle claims.
It also represents a slight increase from the second estimate of CAD 411 million, a rise reportedly driven by growth in both residential and commercial property lines. The initial estimate stood at CAD 409 million.
In keeping with the reporting schedule, the next update to market losses will be issued on 22 December 2026, six months after the event.
Caroline Floyd, Director at CatIQ, commented, “In many ways, pluvial flash flooding events were the story of the summer in terms of Canadian catastrophes, with several large population centres recording their wettest summer on record.
“Between June and August, CatIQ recorded six catastrophes dominated by pluvial flooding and sewer backup in Ontario and Quebec alone. These events resulted in more than 30,000 personal property claims.
“By comparison, between June and August 2025, we saw only one such event – albeit one that also directly impacted the Montreal metro area.
“2024, thankfully, still stands as an outlier compared to both years, with major flash flooding in southern Ontario and the remnants of Hurricane Debby in southern Quebec generating nearly 100,000 personal property claims.”
The post Montreal-area June flooding loss estimate climbs to CAD 442m: CatIQ appeared first on ReinsuranceNe.ws.
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