Catastrophe Modelling

What the May 4 windstorm can teach the industry about catastrophe modelling

The storm cost insurers $380 million in Ontario and $30 million in Quebec, the most expensive event since the 2013 flooding in Toronto (nearly $1 billion in damage), Catastrophe Indices and Quantification Inc. (CatIQ) said on June 1. Strong wind gusts – including a maximum measured gust of 126 km/h and record-setting gusts in some locations – resulted in downed trees and power lines, and three fatalities.