It is the costliest insured loss event in Quebec’s history. 

One year ago, on August 9 and 10, 2024, the remnants of Hurricane Debby caused flooding in Ontario and Quebec. 

On August 12, 2025, Catastrophe Indices and Quantification Inc. (CatIQ) provided a fifth estimate of insured losses stemming from this event. This estimate now stands at $2.806-billion and includes “property (both commercial and residential) and vehicle (motor) claims.” 

“Storm Debby remains the most impactful insured loss event on record for Quebec, even when losses from the 1998 Ice Storm are adjusted for inflation,” confirms Caroline Floyd, Director at CatIQ. 

“The one-year estimate continues to tell the story of significant impacts in Quebec, with only a slight increase in the number of personal and commercial property damage claims. At the same time, we note a slight lowering of the average claim for both lines of business, suggesting some claims may be running up against coverage limits as they are resolved. Indeed, more than 95% of personal property claims are reported as closed at the one-year mark; significantly ahead of 2024’s other large catastrophes,” adds Floyd. 

CatIQ will publish a sixth and final update two years after the event, on August 11, 2026. 

Summer 2024 

Canada experienced four major loss events in the summer of 2024. According to CatIQ’s estimates one year later, these caused more than $8.3-billion in insured losses. 

There was the Debby storm, but also: 

  • wildfire in Jasper between July 22 and August 17 = $1.313-billion; 
  • and flooding in the Greater Toronto Area on July 15 and 16 = $899-million.