New data from Catastrophe Indices and Quantification Inc. (CatIQ) shows that insured damage from Calgary’s July 13, 2025 hailstorm has almost doubled initial estimates which pegged insured losses at $92-million. The new figure instead puts insured damage closer to $164-million, a 78 per cent increase.
Commercial losses increased significantly in the latest estimate relative to the initial estimate. Damage to vehicles represented more than half of all claims resulting from the storm, the Insurance Bureau of Canada (IBC) said in a statement.
They add that Alberta has now experienced at least one major hailstorm every year for the past 20 years. Total insured damage over the past five years has risen to $6-billion. This was prior to the August 20 hailstorm which hit Brooks, Alberta, causing significant damage. “An initial estimate of the cost of that event will be available in the coming weeks,” they write.
In Alberta, the IBC is calling for a revival of Calgary’s Resilient Roofing Rebate Program which provided homeowners with assistance to retrofit their homes to protect against hail damage. They are also calling for the mandatory use of hail-resistant roofing and siding for all new construction in high-risk areas and improved notification services. The IBC is also calling on the government of Alberta to remove the rate cap governing premium increases in auto insurance.
“A significant portion of the claims from July’s hailstorm were for vehicle damages. This underscores the growing pressure that severe weather is placing on Alberta’s already strained auto insurance system. As severe weather and other pressures on the insurance system climb, the cost of providing auto insurance continues to grow. Yet for the past three years, the Alberta government has frozen or capped auto insurance premiums below the cost of providing coverage – the longest period of government interference in auto insurance in Canadian history,” the IBC adds. “Auto insurance premiums in Alberta are now far below the cost of providing auto insurance coverage.”
They note that auto insurers reportedly paid out $1.20 in claims and expenses for every $1 earned in premiums in 2024. “This is not sustainable and has forced several insurers to leave the province.”
