Southern Ontario severe storm outbreak industry loss initially estimated C$563m by CatIQ

The severe storm outbreak that impacted Southern Ontario, including Toronto, on September 2nd and 3rd, 2026, is estimated to have resulted in an insurance industry loss of CAD $563 million, according to CatIQ, Canada’s insured loss and exposure indices provider.

This is just an initial insurance industry loss estimate from CatIQ as well, meaning there will be a chance of some creep over the coming weeks and months.

CatIQ noted that its loss estimate covers property (both commercial and residential) and vehicle (motor) claims including additional loss adjustment expenses.

CatIQ explained that several days of hot and humid conditions affecting the region concluded abruptly when a late-season severe storm outbreak swept through southern Ontario during early September.

The storm outbreak generated very large hail, damaging wind gusts, and torrential rain, which blasted the region from Windsor to Ottawa, resulting in multiple confirmed tornadoes and downbursts.

“Toronto was among the hardest-hit locations, experiencing hail the size of ping pong balls and wind gusts which buckled the side of a large stadium complex. Flash flooding closed major roadways and left motorists stranded and in need of rescue,” CatIQ explained.

Caroline Floyd, Director of CatIQ, commented: “Southern Ontario is no stranger to severe thunderstorms, though it is rare to see storms of this intensity – particularly those featuring large hail – make a direct hit on Toronto.

“While there was certainly flooding reported with this event, including some severe flooding in Vaughan to the north of Toronto, wind and hail damage played a bigger role this time, versus an event like the flash flooding in 2024.”

Floyd added: “Notably, the average personal and auto claims are also currently lower for this event than the 2024 flooding. It will be interesting to watch the development of this estimate as the industry continues to process and resolve claims.”