The July hailstorm that hammered Calgary has proven far more destructive than first thought, with insured losses climbing to $164 million — almost double the original $92 million estimate.New figures from Catastrophe Indices and Quantification Inc. (CatIQ) show commercial damage played a major role in the jump, while smashed vehicles made up more than half of all claims.“It’s been another catastrophic year for hailstorms in Alberta,” said Aaron Sutherland, vice-president for the Insurance Bureau of Canada (IBC). “The July 13 Calgary hailstorm storm caused significant damage to vehicles, homes and businesses. Alberta has now experienced at least one major hailstorm every year for the past two decades — including last year’s record $3.2 billion hailstorm that hit Calgary.”.According to IBC, insured hail losses in Alberta have now topped $10 billion, with $6 billion of that total coming in the last five years alone. Another major storm hit Brooks on August 20, with damage estimates still pending.Sutherland said demand for contractors, replacement vehicles, and auto repairs will put further strain on Alberta’s already stressed insurance market, but promised insurers would “be there to help Albertans recover as quickly as possible.”Insurers are again calling on governments to revive Calgary’s Resilient Roofing Rebate Program, mandate hail-resistant building materials for new construction in high-risk zones, and improve hail warning systems so drivers can move their vehicles before a storm hits..The IBC also warned that severe weather is piling pressure on Alberta’s frozen auto insurance market. Premiums have been capped for three years — the longest period of government interference in Canadian history — leaving insurers paying out $1.20 in claims for every $1 earned in premiums in 2024. Several firms have already left the province.“Consumers are feeling the impact of an auto insurance system in crisis,” said Sutherland. “The government must remove the rate cap and ensure the Care-First reforms are implemented effectively. Without meaningful change, consumers will continue to face fewer insurance coverage options and growing frustration.”
