What insurers paid for eastern Canada’s March 2025 ice storm

A March ice storm in Ontario and Quebec that caused widespread power outages and resulted in multiple states of emergencies cost the industry $416 million, according to Catastrophe Indices and Quantification Inc. (CatIQ).

This is the third industry loss estimate for the ice storm that affected southern Ontario and Quebec between Mar. 28 and Mar. 31. The estimate provides a snapshot of the insurance market 90 days post-event, says a press release from PERILS AG, of which Toronto-based CatIQ is a subsidiary.

The third estimate covers property — both commercial and residential — and vehicle claims, including additional loss adjustment expenses. “This 90-day estimate shows continued growth in personal lines, while commercial and [auto] trends appear to have stabilized.”

A fourth update of the market loss from the ice storm will be available Sept. 30, about six months after the event end date.

“While we typically expect to see increases in claims numbers slow by the 90-day mark, the continued growth in personal claims is not surprising, given the location of the most significant damage,” says CatIQ director Caroline Floyd. “It is understandable that there may have been delays in reporting damage from cottage or holiday properties that were only more recently re-opened for the summer season.” 

35 hours of freezing rain

The Cat occurred during a prolonged period of wintry precipitation. Locations in Ontario’s Kawarthas region recorded as many as 35 hours of freezing rain and ice accretion of up to 25 millimetres, the release says.

The accumulated ice put significant strain on power lines, trees, and other surfaces, causing extensive damage and leaving hundreds of thousands of customers without power. Power disruptions persisted for weeks in the hardest-hit areas.

More than 400,000 Hydro One customers were affected after heavy ice accumulations snapped three branches, causing them to strike and break power lines. The Weather Network reported Peterborough and Trenton, Ont., endured more than 30 hours of freezing rain.

In Ontario, the Financial Services Regulatory Authority of Ontario said Apr. 16 it would implement temporary measures allowing licensed adjusting firms to use claims adjusters with licences outside of Ontario. Provincial insurers will also be allowed to use the services of employees of affiliated insurers. The measures remain in place until July 4.

In mid-April, ClaimsPro’s director of Cat response, Christine Segaric, told Canadian Underwriter the adjusting firm received close to 1,500 claims files. Severity ranged from minor residential freezer losses around $1,000 to high-value commercial claims reaching hundreds of thousands of dollars.

CRU Group CEO David Repinski said his firm received “claim assignments across the Muskoka and Kawartha regions, many involving downed trees, ice-related property damage, and losses from extended power outages.”

Ice events are common across the Lower Great Lakes and St. Lawrence regions. “One of the most impactful events in Canadian history struck parts of the region in 1998,” the release says, referring to the Quebec ice storm that cost insurers $2.9 billion in losses as of September 2024, according to Insurance Bureau of Canada.

April is also a common month for these events, with other major storms occurring in April 2018 and 2023.