2022

FACTS
of the Property and Casualty
Insurance Industry in Canada

IB C
Insurance Bureau
of Canada
2022 Facts of the Property and Casualty
Insurance Industry in Canada

Facts of the Property and Casualty Insurance Industry in Canada 2022

is published by Insurance Bureau of Canada (IBC). IBC is the trade
association representing Canada’s private property and casualty (P&C)
insurance companies. Since 1972, IBC has published Facts to provide
a snapshot of the state of the P&C insurance industry.

The data in Facts 2022 comes from several national and international
sources, including IBC. Data is from 2020, 2021 or 2022, depending on
when sources released their information.

All P&C insurance financial data for 2021 is preliminary.

In some instances, figures may not add up to the listed total as a result of
rounding. Also, because sources collect data in different ways, there can
be small differences among similar data.

44th edition, 2022 ISSN 1197 3404

© 2022 Insurance Bureau of Canada. All rights reserved. This document
is to remain confidential to members of Insurance Bureau of Canada and
may not be disclosed or disseminated outside of member companies
unless expressly authorized by Insurance Bureau of Canada.
PRESIDENT’S MESSAGE
a four-point plan to help small businesses secure
insurance. These actions continue to be centred
on insurers, businesses and organizations working
together to improve risk management within
specific sectors in a way that positively impacts
insurance availability and affordability.

Last year, we began to see inflation creep

into claims costs, particularly in the property
Don Forgeron and automobile lines. Looking at loss ratios in
President and CEO, the second half of 2021, it’s evident that the
Insurance Bureau
of Canada
combination of record inflation, labour shortages
and global supply chain disruptions had a negative
effect on underwriting results.
Since 1972, IBC’s Facts Book has
given our industry and members an As we worked to support Canadians through
unprecedented commercial market conditions, our
opportunity to reflect on the set of industry continued to focus on other important
facts, figures and statistics that tell issues – including auto insurance.
the story of how the industry has
In Atlantic Canada, auto insurance claims in
performed in the previous year. Newfoundland and Labrador stabilized but
remained high, as did premiums. IBC also
Our 2022 Facts Book is no different. Amid the recognized there was work to do in Nova Scotia
disruption of the pandemic in 2021, the industry and New Brunswick on product reform and rate
continued to serve and support insurance regulation.
customers across the country.
In Alberta, we saw changes that will benefit drivers
During that difficult time, from April 2020 until for years to come. We helped secure the first true
almost two years later, Canada’s insurers returned “file-and-use” rate filing framework in Canada
over $3.7 billion to their customers, through and a new principles-based approach to rating
premium rebates, reductions, deferrals and other variables and rating territories. We also supported
measures. We were there for our customers when improvements to enable innovative products such
they needed us, helping to reduce the financial as pay-per-kilometre insurance.
strain that many households were experiencing.
The biggest change for Alberta drivers was
In that same spirit, we also continued to address the introduction of a framework for direct
the ongoing challenges in the commercial compensation for property damage. We
insurance market. spearheaded an education campaign to help
drivers understand the change.
Our National Commercial Insurance Task
Force delivered important insights and In Ontario, we made substantial progress with the
recommendations, and we moved forward with government to address rampant fraud, make roads

IBC 2022 FACTS 2

safer and deliver important changes to the towing That’s why, in the summer of 2021, we established
industry. I was pleased to see the government pass Climate Proof Canada, a broad coalition of climate
the Moving Ontarians More Safely Act, and create engaged voices, amplified by an award-winning
the Towing and Storage Safety and Enforcement campaign. In the months that followed, IBC and
Act – with new standards and oversight that will Climate Proof Canada successfully advocated for
improve road safety and better protect consumers. the country’s first National Adaptation Strategy.

In BC, we continued to engage with the The past few years have shown us to expect the
government as it implemented a no-fault auto unexpected. However, our industry has never failed
insurance system. We also continued to advocate for to rise to a challenge. Our willingness to work
the benefits of a more competitive auto insurance together, innovate and find solutions is what has
market – with more choice for consumers. always helped us through difficult times and, in
many cases, helped us emerge even better than
Over the years, insurance fraud has become
before. In fact, challenging times may be our best
increasingly sophisticated. In 2021, the industry
opportunity to demonstrate our value to Canadian
responded by creating a unified organization
governments, businesses and consumers.
combining world-class analytics and investigative
techniques, and cross-insurer intelligence Finally, I’d like to share some personal news. After
sharing. On October 1, IBC’s Investigative Services more than 30 years of industry service, I have
division was transferred to Équité Association, decided that it’s time to retire. It has been an
an independent, not-for-profit organization incredible honour and privilege to be IBC’s CEO for
committed to reducing insurance crime. IBC the past 13 years. I’ll be watching with deep pride,
is now better positioned to support insurance as IBC continues to be a credible and trustworthy
industry priorities by focusing solely on its Issues voice for governments, regulators and consumers,
Management services. who rely on insurers to provide protection to
Canadians when they need it most.
The industry continued to fight for climate change
action, as 2021 brutally demonstrated the need for
better planning and a greater focus on improving
our collective resilience.

In the summer of 2021, more than 600 people in

British Columbia perished in an intense heat wave.
Also, wildfire decimated an entire community – the
Village of Lytton. Only months later, some of the
same communities were hit by an atmospheric
Don Forgeron
river and severe flooding. IBC was there to lead our
industry’s response to these unfortunate events President and CEO,
and personal tragedies. Insurance Bureau of Canada

We also played a leadership role in pushing

for practical and urgent changes that will help
Canadians adapt to the new, escalating threats
posed by our changing climate.

IBC 2022 FACTS 3

CONTENTS
SECTION 1
Canada’s P&C insurance industry, all sectors
6 Industry at a glance
8 Premiums
10 Insurance revenue dollar
11 Claims
12 Taxes and levies
14 Operating expenses
15 Catastrophic losses
26 Regulation and regulatory issues

SECTION 2
Canada’s P&C insurance industry by line of business

Auto insurance
29 Mandatory insurance
29 Optional insurance
29 “No-fault” insurance
30 What’s mandatory where
31 Premiums and claims
32 Average losses

Home insurance

33 Types of coverage
33 Premiums and claims

Business insurance

34 Types of coverage
34 Premiums and claims

SECTION 3
Insurance organizations
35 IBC members

IBC 2022 FACTS 4

SECTION 1
Canada’s P&C insurance
industry, all sectors
6 Industry at a glance
8 Premiums
10 Insurance revenue dollar
11 Claims
12 Taxes and levies
14 Operating expenses
15 Catastrophic losses
26 Regulation and regulatory issues

IBC 2022 FACTS 5

SECTION 1

INDUSTRY AT A GLANCE

Of its $223.9 BILLION in total assets,

38.5% of direct written the P&C insurance industry had $124.3
premiums were for car billion in invested assets in 2021*
insurance in 2021

The P&C insurance industry In 2021, Canadian P&C insurers

employed approximately paid out $37.9 billion in claims.
134,300 people across
Canada in 2021

$11.8 BILLION – the amount

the P&C insurance industry
contributed in taxes and
levies to federal and provincial
governments in 2020

* As per the latest OSFI regulatory filing forms, which came into effect Q4 2016.

IBC 2022 FACTS 6

SECTION 1

INDUSTRY AT A GLANCE

More than 193 private P&C

insurers actively compete in
Canada

Property claims as a percentage of

total claims HAVE RISEN over the
last decade.

40%

35.3%
35%

30%

28.3%
25%

20%
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Sources: IBC, MSA

IBC 2022 FACTS 7

SECTION 1

PREMIUMS
Insurance premiums are determined based on risk. Insurers consider the likelihood of a
customer (or a group of customers with a similar set of circumstances) making a claim,
and how much those claims will likely cost.
The price for premiums is based, in part, on an insurer’s best estimate of the amount it
will be required to pay out in claims on the policies it writes in any given year. Insurers
pool the premiums of their many policyholders to cover the losses claimed by the few
in that year.
Along with covering claim costs, premiums are calculated to cover taxes, operating
expenses and expected profits.

The requirement to estimate future costs is a unique There are more than 193 private P&C insurers actively
challenge in the insurance business. Most businesses competing in Canada to sell insurance policies on
can calculate the actual costs of producing and selling a homes, cars and businesses.
product before the selling price is determined. However,
when setting premiums, P&C insurance companies can In 2021, private Canadian insurers wrote $77.4 billion
only estimate the costs of the medical treatments, car in direct written premiums ($67.3 billion in net written
repairs or house repairs they will have to pay in the future. premiums) for insurance on consumers’ homes, cars and
businesses.
Consumers often find this confusing and are unsure
about what a premium represents. Many think of their
premiums as a bank account that is there just for them in
case of a loss. But that’s not how it works.

Insurance companies report premiums in two ways. Direct

written premiums are the total amount of premiums that
a P&C insurance company receives in one year. Net written
premiums are direct written premiums minus the net cost
of reinsurance purchased by the insurer.

Sources: IBC, MSA

IBC 2022 FACTS 8

SECTION 1

PREMIUMS
Of the $67.3 billion in net written premiums, 41% was for one Specialized lines of insurance, such as boiler and
line of business: automobile, including commercial vehicle machinery, marine and aircraft, and surety and fidelity,
insurance. (Figures do not include government-owned auto make up about 8% of the business. The smallest portion
insurers in British Columbia, Saskatchewan, Manitoba and of the business is accident and sickness insurance, which
Quebec, which generally provide the compulsory component a few P&C insurance companies sell. Most of this type of
of auto insurance in those provinces, in addition to some insurance is sold by life and health insurers.
optional coverages.) Personal property, commercial property
and liability made up most of the rest.

NET WRITTEN PREMIUMS (NWP) IN $000,000, 1997 TO 2021

AUTO PERSONAL COMMERCIAL LIABILITY OTHER TOTAL
NWP PROPERTY NWP PROPERTY NWP NWP NWP NWP

1997 9,553 3,281 2,711 1,878 1,185 18,608

1998 9,686 3,383 2,469 1,823 1,198 18,559
1999 9,839 3,293 2,434 1,846 1,315 18,728
2000 10,705 3,429 2,591 1,982 1,471 20,178
2001 11,281 3,481 2,768 2,194 1,519 21,242
2002 13,150 3,971 3,909 3,145 3,333 27,507
2003 15,781 4,452 4,518 4,081 2,581 31,413
2004 16,415 5,079 4,802 4,357 2,622 33,275
2005 16,430 5,315 4,820 4,600 2,698 33,864
2006 16,590 5,621 4,985 4,826 2,943 34,964
2007 16,758 6,033 4,997 4,766 3,540 36,095
2008 17,140 6,495 5,001 4,624 3,438 36,698
2009 18,126 7,013 5,313 4,667 3,068 38,187
2010 18,977 7,598 5,568 4,726 3,416 40,285
2011 20,239 8,192 6,014 4,817 3,533 42,794
2012 20,690 8,565 6,136 4,502 3,758 43,653
2013 21,089 9,024 6,339 4,731 3,823 45,007
2014 21,295 9,791 6,621 4,781 4,143 46,632
2015 20,630 10,187 6,656 4,988 4,547 47,009
2016 21,293 10,663 6,704 4,907 4,494 48,062
2017 20,626 11,226 6,941 5,029 4,645 48,466
2018 23,812 11,976 7,638 5,484 5,036 53,945
2019 24,105 12,419 8,111 5,622 5,368 55,625
2020 26,846 13,712 9,654 6,633 5,671 62,515
2021 27,274 14,411 11,002 8,119 6,518 67,325

Sources: IBC, MSA, SCOR, AMF

DIRECT WRITTEN PREMIUMS (DWP) BY LINE, 2021 NET WRITTEN PREMIUMS (NWP) BY LINE, 2021
LINE OF DWP IN DWP AS % OF LINE OF NWP IN NWP AS % OF
BUSINESS $000,000 TOTAL BUSINESS BUSINESS $000,000 TOTAL BUSINESS

Total auto 29,796 39% Total auto 27,274 41%

Auto – Private passenger 24,124 31% Auto – Private passenger 22,058 33%
Personal property 16,241 21% Personal property 14,411 21%
Commercial property 13,384 17% Commercial property 11,002 16%
Liability 10,364 13% Liability 8,119 12%
Specialized 6,139 8% Specialized 5,365 8%
Accident and sickness 1,446 2% Accident and sickness 1,152 2%
Total business 77,369 100% Total business 67,325 100%
Sources: IBC, MSA, SCOR, AMF Sources: IBC, MSA, SCOR, AMF

IBC 2022 FACTS 9

SECTION 1

INSURANCE REVENUE DOLLAR

The “Insurance Dollar” graphs show how insurers spent
each dollar of revenue averaged over seven years, from
2015 to 2021. Insurers earn revenue through premiums and
on investments they make.

More than half of every dollar received is paid out in claims.

55.6% 21.9% 13.7% 8.7%

Claims paid out to Operating expenses, Taxes and levies Profit margin
policyholders including employee
compensation
Sources: IBC, MSA

IBC 2022 FACTS 10

SECTION 1

CLAIMS
In 2021, Canadian P&C insurers paid out $37.9 billion in claims.
A note about terminology in the charts below:
Net claims incurred are the total claims cost incurred in the period, less any share to be paid by reinsurers.

NET CLAIMS INCURRED (NCI) IN $000,000, 1997 TO 2021

AUTO PERSONAL COMMERCIAL LIABILITY OTHER TOTAL
NCI PROPERTY NCI PROPERTY NCI NCI NCI NCI

1997 7,221 2,112 1,838 1,406 613 13,190

1998 7,185 2,523 2,089 1,275 696 13,768
1999 7,475 2,152 1,758 1,438 659 13,483
2000 8,443 2,286 1,847 1,430 784 14,790
2001 9,431 2,316 2,031 1,495 887 16,161
2002 10,844 2,352 2,195 2,085 2,019 19,494
2003 12,028 2,574 2,161 2,632 993 20,388
2004 11,081 2,921 2,033 3,263 864 20,161
2005 10,626 3,570 3,356 3,071 944 21,568
2006 10,968 3,556 2,173 2,577 1,052 20,326
2007 11,753 3,842 2,589 2,642 990 21,817
2008 12,997 4,720 3,157 2,726 1,404 25,003
2009 13,472 5,071 3,454 2,878 1,464 26,338
2010 15,205 4,566 3,276 2,766 1,475 27,288
2011 14,607 5,336 4,087 2,977 1,560 28,567
2012 14,731 5,013 3,981 2,615 1,479 27,817
2013 15,125 6,161 4,699 2,486 1,650 30,120
2014 15,835 6,045 3,955 2,526 1,970 30,330
2015 15,277 5,489 3,797 3,106 1,761 29,431
2016 15,239 6,253 5,494 2,933 1,684 31,602
2017 15,226 6,533 4,280 2,749 1,748 30,536
2018 17,328 7,228 5,471 3,090 1,937 35,054
2019 17,776 7,180 5,015 3,551 2,145 35,668
2020 17,793 7,012 5,525 5,153 2,429 37,912
2021 15,784 7,072 4,690 4,347 1,902 33,795

Sources: IBC, MSA, SCOR, AMF

DIRECT CLAIMS INCURRED (DCI) BY LINE, 2021 NET CLAIMS INCURRED (NCI) BY LINE, 2021
LINE OF DCI IN DCI AS % OF LINE OF NCI IN NCI AS % OF
BUSINESS $000,000 TOTAL BUSINESS BUSINESS $000,000 TOTAL BUSINESS

Total auto 17,147 45% Total auto 15,784 47%

Auto – Private passenger 14,349 38% Auto – Private passenger 13,203 39%
Personal property 7,648 20% Personal property 7,072 21%
Commercial property 5,708 15% Commercial property 4,690 14%
Liability 5,391 14% Liability 4,347 13%
Specialized 1,302 3% Specialized 1,197 4%
Accident and sickness 670 2% Accident and sickness 705 2%
Total business 37,866 100% Total business 33,795 100%
Sources: IBC, MSA, SCOR, AMF Sources: IBC, MSA, SCOR, AMF

IBC 2022 FACTS 11

SECTION 1

TAXES AND LEVIES

Each year, the private P&C insurance
industry makes significant tax FEDERAL AND PROVINCIAL TAXES AND
contributions to government revenues. In LEVIES COLLECTED IN $000,000, 2020
2020, Canadian P&C insurers contributed Income taxes 2,000
taxes and levies totalling $11.8 billion to
Payroll taxes 1,956
federal and provincial governments.
Realty and business taxes 33
About 83% ($9.8 billion) of the industry’s
total tax contribution was incurred through Transaction taxes

the insurance supply chain and paid GST on claims* 879

regardless of the industry’s bottom line, PST/QST on claims* 1,227
while about 17% ($2 billion) was paid in
Sales tax on operating expenses 419
income taxes.
RST on premiums 2,494
The main taxes and levies applied to the P&C insurance
industry are: (Sask., Man., Ont., Que., N.L.)
• Sales tax on claims and expenses. The P&C insurance Insurance premium taxes 2,382
industry paid an estimated $2.1 billion in goods and
services tax (GST), provincial sales tax (PST/QST) and Transaction subtotal 7,401
harmonized sales tax (HST) applicable to P&C insurance
Total taxes 11,390
claims. An additional $419 million in sales tax related to
general and administrative expenses was incurred as part Health levies 377
of daily operations.
TOTAL 11,767
• Insurance premium tax. Provinces apply this tax,
which is included in premiums, at different rates on
different insurance products. Some jurisdictions have
combined this tax with a fire tax, which some provincial *Harmonized sales tax (HST) is allocated into the appropriate component
Source: IBC
governments collect to disburse to municipalities to
support fire services. Some provinces also use levies to
help recover costs of fire services; for example, the Nova Although P&C insurance products are exempt from GST
Scotia 50-cent levy per insured vehicle. and HST, a significant amount of sales and insurance-
specific taxes are embedded in the premium. Based on a
• Retail sales tax (RST) on premiums. This is a provincial
$1,000 unit of premium, on a Canada-wide average basis,
sales tax collected from policyholders in Manitoba,
it’s estimated that these taxes account for $137 of the
Saskatchewan, Ontario, Quebec, and Newfoundland and
premium for personal property insurance, $113 of the
Labrador. Considered a financial service, P&C insurance
premium for private passenger auto insurance (which
premiums are exempt from the GST and HST; however,
includes health care levies), $111 of the premium for
some provinces apply a unique RST to premiums.
commercial liability insurance and $99 of the premium for
• Health care levy. This levy is paid to most provincial commercial property insurance.
governments to support the health care system,
particularly to pay for the public health system costs of
auto collision victims. Health care levies are included in
Sources: IBC, MSA
the industry’s total tax contribution because they are
mandatory.

IBC 2022 FACTS 12

SECTION 1

TAXES AND LEVIES

PROVINCIAL INSURANCE PREMIUM, RETAIL SALES AND FIRE TAX RATES AS OF MAY 2022

INSURANCE PREMIUM RETAIL SALES FIRE TAX RATE

TAX RATE (%) TAX RATE (%) (%)

Alberta 4.00 - -
British Columbia (auto and property insurance) 4.40 - -
British Columbia (excluding auto and property) 4.00 - -
Manitoba (property insurance)1 3.00 1.00
Manitoba (excluding property) 3.00 7.0 1.00
New Brunswick2 3.00 - 1.00
Newfoundland and Labrador (auto insurance)3 5.00 - -
Newfoundland and Labrador (excluding auto) 5.00 15.0 -
Northwest Territories 3.00 - 1.00
Nova Scotia 4.00 - 1.25
Nunavut 3.00 - 1.00
Ontario (auto insurance) 3.00 - -
Ontario (property insurance) 3.50 8.0 -
Ontario (excluding property and auto) 3.00 8.0 -
Prince Edward Island 4.00 -
Quebec4 3.48 9.0 -
Saskatchewan (auto insurance) 5.00 6.0 -
Saskatchewan (hail insurance) 3.00 - -
Saskatchewan (excluding auto and hail) 4.00 6.0 1.00
Yukon5 4.00 - -

1
In April 2020, Manitoba announced the elimination of the Retail Sales Tax on real property insurance premiums effective July 1, 2020.
Members informed IBC that Manitoba decreased the fire tax rate to 1.00% from 1.25%, effective January 1, 2021.
2
In New Brunswick, the fire tax applies on property and auto fire risks.
3
In Newfoundland and Labrador, the Retail Sales Tax on auto insurance premiums was eliminated effective April 15, 2019. Non-owned auto, which
is a third party liability coverage reported under general liability, is considered an exempt auto insurance coverage. The Retail Sales Tax on property
insurance premiums was temporarily eliminated between April 7, 2022 and April 6, 2023.
4
Insurance premium tax rates include a surcharge and a compensation tax. Quebec has extended the application periods of the surcharge of 0.18%
to March 31, 2022, and the compensation tax of 0.30% to March 31, 2024.
5
Effective January 1, 2021, Yukon increased the insurance premium tax rate to 4% from 2% and repealed the fire tax.

Source: IBC

IBC 2022 FACTS 13

SECTION 1

OPERATING EXPENSES
Operating expenses for P&C insurers include commercial
premises costs, information technology, market research,
distribution costs and employee compensation.

Employee compensation is the largest operating expense. In

2021, the P&C insurance industry employed approximately
134,300 people across Canada.
AVERAGE WEEKLY WAGE COMPARED
TO BENCHMARK INDUSTRIES IN $, 2021
Compensation levels in the industry are relatively high
compared with most other sectors in the economy. The Mining and quarrying
average weekly salary in 2021 was $1,433.1 This reflects the (except oil and gas) 1,922.6
advanced skill mix possessed by employees in the P&C
insurance industry. Information & cultural industries 1,587.6

Employment in the insurance industry as a whole (which Professional, scientific &

includes life, health and medical, and P&C) grew by 10.1%
tech. services 1,534.3
between 2015 and 2021, according to Statistics Canada.
Public administration 1,464.7

Insurance carriers &

related activities 1,433.1

Credit intermediation 1,315.0

Hospitals 1,193.6

Manufacturing 1,189.1

Educational services 1,164.7

All industries 1,130.6

Retail trade 654.8

Accommodation & food service 458.0

Source: Statistics Canada Table: 14-10-0204-01 (formerly: CANSIM 281-0027)

IBC 2022 FACTS 14

SECTION 1

CATASTROPHIC LOSSES
Insured losses for a given disaster are deemed catastrophic when they
total $30 million* or more. Catastrophic losses for a year are the sum total
of insured losses from these catastrophes. Catastrophic losses due to
natural disasters have increased dramatically over the last decade.
Severe weather events in 2021 included wildfires in British Toronto. As well, a massive winter storm hit southern Ontario and
Columbia, one of which burned the village of Lytton to the parts of Eastern Canada at the end of 2013.
ground. This was followed by catastrophic flooding late in the Another record year for insured losses was 1998, the year that
year in British Columbia as well as summer hailstorms in Calgary. an ice storm occurred in Quebec and Ontario with six days of
Insured damage for severe weather events across Canada freezing rain, month-long power outages and $2.4 billion in
reached $2.4 billion (preliminary), which means 2021 is ranked insured losses.
fifth-highest in insured losses of this type since 1983.
Milestone losses of the past decade include hailstorms in Alberta
The highest-ever loss amount for a single year was $5.6 billion during the summer of 2014 that cost insurers $618 million as
in 2016. Of the $5.6 billion, $4.1 billion was the result of the well as the Slave Lake fire of 2011 that ravaged a remote area of
Fort McMurray wildfire in northern Alberta, which forced the Alberta and caused $624 million in insured losses.
evacuation of nearly 90,000 people. The fire destroyed or
damaged over 2,500 homes and buildings and thousands of Atlantic Canada rarely sees catastrophic loss amounts like those
vehicles, and resulted in about 60,000 claims. in Alberta, Quebec and Ontario. This is not because the region
has fewer or less-severe weather events. It’s because Atlantic
Before 2016, the year 2013 was the record-breaker for catastrophic Canada has smaller built-up areas.
losses. That year, insurers paid out more than $3.6 billion,
including $1.8 billion as a result of floods in southern Alberta and (All figures in this section are in 2021 dollars. For catastrophic losses
around $1.1 billion as a result of a summer storm and flooding in plus loss adjustment expenses, see the chart on the next page.)

CATASTROPHIC LOSSES IN CANADA IN $000,000,000, 1983 TO 2021 AND TREND

$ billion
5.5
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1.0
0.5
0.0
1983 1987 1991 1995 1999 2003 2007 2011 2015 2019

Loss + Loss Adjustment Expenses in 2021 dollars Sources 1983 to 2007: IBC, PCS Canada, Swiss Re, Deloitte
Source 2008 -2021: CatIQ
Estimated Trend

IBC 2022 FACTS 15

SECTION 1

CATASTROPHIC LOSSES
The table below shows the steady increase in the number and The figures from 2008 to 2021 are reported by Catastrophe
cost of catastrophic losses from severe weather in Canada. This Indices and Quantification Inc. (CatIQ), which tracks insured
is not a Canada-only phenomenon; it is part of a worldwide losses arising from catastrophic events in Canada, or as
trend that scientists increasingly attribute to climate change. indicated at the end of the table. Prior to 2008, IBC used
The table includes insured losses by event and annual totals multiple sources to establish estimates for catastrophic event
from 1983 to 2019. For 2020 and 2021, it sets out insured losses. Insured loss data for events that took place from 2008 to
losses for the two largest events in the year and annual totals. 2021 is available through subscription to CatIQ.
*In 2022, CatIQ updated the definition of catastrophic losses to include losses that total at least
$30 million. (Previously, the threshold was $25 million.)

BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
1983
July 9, Saskatchewan Storm 16,385 39,933
Aug. 3, Edmonton AB Storm 22,060 53,764
Total 1983 38,445 93,697
1984
April 30, Bruce County ON Wind 39,066 91,283
Total 1984 39,066 91,283
1985
May 30, Leamington ON Storm 16,390 36,838
May 31, Barrie ON Tornado 83,922 188,625
Total 1985 100,312 225,463
1986
May 29, Montreal QC Hail 45,473 98,155
Total 1986 45,473 98,155
1987
May 29, Montreal QC Hail 24,891 51,454
July 14, Montreal QC Storm 44,678 92,356
July 31, Edmonton AB Tornado 148,377 306,718
Total 1987 217,946 450,528
1988
June 7, Medicine Hat AB Tornado 50,027 99,492
July 6, Slave Lake AB Flooding 21,500 42,758
Aug. 16, Calgary AB Hail 37,127 73,837
Total 1988 108,654 216,087
1989
July 20, Harrow ON Flooding 13,807 26,137
Total 1989 13,807 26,137
1990
July 9, Calgary AB Hail 16,279 29,402
Total 1990 16,279 29,402
1991
March 27–28, Sarnia ON Tornado 25,407 43,450
July 3, Red Deer AB Storm 28,202 48,230
Aug. 27, Maskinongé QC Tornado 17,667 30,213

IBC 2022 FACTS 16

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021
LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
Sept. 7, Calgary AB Hail 342,745 586,144
Nov. 30, Ontario Wind 5,429 9,284
Total 1991 419,450 717,320

1992
July 31, Calgary AB Hail 22,078 37,217
July 31, Toronto ON Flooding 4,898 8,257
Aug. 28, Alberta Hail 5,263 8,872
Aug. 28, Elmira, Aurora ON Flooding 4,348 7,329
Sept. 1, Alberta Hail 7,421 12,510
Oct. 6–7, Avalon NL Wind 8,216 13,850
Nov. 12–13, southern Ontario Wind 36,437 61,422
Nov. 12–13, Quebec Wind 12,056 20,323
Total 1992 100,717 169,780

1993
March 13–14, Quebec Storm 18,447 30,515
July 25–Aug.14, Winnipeg MB Flooding 184,837 305,758
July 29–30, Alberta Hail 8,116 13,426
July 29, Saskatchewan Flooding 5,383 8,905
July 29–30, Quebec Flooding 7,624 12,612
Total 1993 224,407 371,215

1994
Jan. 16–17, southern Ontario Flooding 13,145 21,719
Jan. 28, southern Ontario Storm 6,250 10,327
May 18, southern Manitoba Storm 8,260 13,648
May 22, Saskatchewan Storm 8,666 14,319
June 18, southern Alberta Hail 8,263 13,653
Aug. 4, Salmon Arm BC Storm 10,225 16,895
Aug. 4, Aylmer QC Tornado 6,911 11,419
Aug. 27, southern Manitoba Hail 8,112 13,403
Aug. 28, southern Ontario Storm 7,219 11,928
Total 1994 77,051 127,309

1995
June 6–9, Calgary AB Flooding 20,764 33,564
July 4, Edmonton AB Hail 14,698 23,758
July 10, southern Alberta Hail 26,389 42,656
July 13–15, southern Ontario Storm 53,439 86,381
July 17, Calgary AB Hail 52,304 84,546
July 30, southern Manitoba Storm 8,468 13,688
Aug. 26, Regina SK Storm 12,294 19,872
Oct. 5–6, Hamilton ON Storm 16,325 26,388
Total 1995 204,681 330,854

1996
July 16, Winnipeg MB Flooding/Hail 146,825 233,863
July 16–18, Calgary AB Hail 119,091 189,688

IBC 2022 FACTS 17

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
July 19–20, Saguenay QC Flooding 207,159 329,963
July 23, Outaouais QC Wind/Hail 1,571 2,502
July 24–25, Calgary AB Hail 85,222 135,742
Aug. 8, Ottawa ON Flooding 20,257 32,265
Aug. 8, Outaouais, Estrie QC Flooding 7,882 12,554
Nov. 9, Montreal, Quebec City QC Flooding 76,040 121,117
Total 1996 664,047 1,057,695

1997
Feb. 27, Niagara Peninsula ON Wind 23,776 37,242
April 6–7, Sudbury ON Flooding 20,558 32,201
July 14–15, Chambly QC Flooding 29,865 46,780
Total 1997 74,199 116,223

1998
Jan., southern Quebec Ice storm 1,384,100 2,146,644
Jan., eastern Ontario Ice storm 170,000 263,658
Jan., southern New Brunswick Ice storm 20,000 31,019
July 4–9, Calgary AB Hail 69,742 108,165
Sept. 26–27, Niagara Peninsula ON Wind 63,403 98,334
Total 1998 1,707,245 2,647,819

1999
Jan., southern Ontario Snowstorm 120,021 182,938
June 5, Drummondville QC Hail 20,555 31,330
July 5–6, Quebec Wind 43,321 66,031
July 28, Atlantic provinces Flooding 15,756 24,016
Sept. 22, Atlantic provinces Flooding 15,648 23,851
Total 1999 215,301 328,166

2000
May 12, southern Ontario Storm 128,121 190,167
July 7, southern Manitoba Storm 18,559 27,547
July 14, Pine Lake AB Tornado 17,916 26,592
Aug. 9, Calgary AB Storm 28,058 41,646
Oct. 30, Sydney NS Flooding 4,010 5,952
Dec. 17, Atlantic provinces Wind 19,756 29,323
Total 2000 216,420 321,227

2001
Feb. 1, Atlantic provinces Snowstorm 13,746 19,902
Feb. 8, southern Ontario Storm 54,078 78,297
Feb. 8, Quebec Storm 53,843 77,957
July 13, Alberta Storm 25,513 36,939
July 28, Edmonton AB Storm 23,902 34,607
Sept. 19, Atlantic provinces Flooding 6,362 9,211
Dec. 14, southwestern British Columbia Wind 27,035 39,143
Total 2001 204,480 296,057

IBC 2022 FACTS 18

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
2002
Jan. 31, southern Ontario Wind 34,508 48,863
March 9, Ontario Wind 110,989 157,160
June 8, southern Alberta Flooding 42,828 60,644
June 10, southern Ontario Storm 53,943 76,383
July 26, southwestern Ontario Storm 60,060 85,045
Total 2002 302,327 428,095
2003
March 30–April 1, New Brunswick Flooding 4,695 6,467
March 30–April 1, Newfoundland and Labrador Flooding 711 979
March 30–April 1, Prince Edward Island Flooding 628 865
March 30–April 1, Nova Scotia Flooding 18,557 25,561
Aug. 11–12, Alberta Wind/Hail 33,565 46,234
Aug. 11–12, Saskatchewan Wind/Hail 29,055 40,021
Summer, British Columbia Forest fires 200,000 275,486
Sept. 28–29, Prince Edward Island Hurricane 6,665 9,181
Sept. 28–29, Nova Scotia Hurricane 132,671 182,745
Total 2003 426,548 587,541
2004
July 2–11, Edmonton AB Hail 166,000 224,504
July 15, Calgary AB Hail 21,500 29,077
July 15, Peterborough ON Flooding 87,303 118,072
Sept. 9, eastern Ontario Rainstorm 57,600 77,900
Total 2004 332,403 449,554
2005
June 6–8 and June 17–19, Alberta Flooding 300,000 397,009
June 20–30 and July 1–2, Manitoba Flooding 60,000 79,402
July 5 and Sept. 26, Quebec Rainstorm 57,000 75,432
Aug. 19, Ontario Wind/Rainstorm 625,400 827,632
Total 2005 1,042,400 1,379,475
2006
Feb. 6, British Columbia Storm 6,406 8,314
Aug. 10, Alberta Hail 13,593 17,642
Sept. 24, Greater Toronto Area ON Wind/Hail 4,628 6,007
Nov.15–Dec. 15, British Columbia Storm 133,086 172,731
Total 2006 157,713 204,694
2007
Jan. 5, British Columbia Storm 16,235 20,618
June 5, Alberta Storm 44,621 56,667
June 22–24, Manitoba Storm 17,607 22,360
Summer, Manitoba Storm 47,400 60,196
July 7, Alberta Forest fires 7,376 9,367
July 28–29, Alberta Hail 16,581 21,057
Aug. 1, Newfoundland and Labrador Wind 6,039 7,669
Total 2007 155,859 197,934

IBC 2022 FACTS 19

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021
LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
2008
Jan. 9, Greater Toronto Area, Prince Edward County ON Windstorm 70,315 87,262
June 10, Montreal and surrounding regions QC Hail/Windstorm/Lightning/Water 172,490 214,063
July 9, Swift Current SK Hail/Windstorm/Lightning/Water 29,388 36,471
Aug. 8, Red Deer AB Hail/Windstorm/Lightning/Water 51,882 64,386
Dec. 21, Vancouver BC Winter storm 51,663 64,115
Total 2008 375,738 466,297
2009
Jan. 6–8, Vancouver, Fraser Valley, Chilliwack, Greendale BC Flooding/Water 43,272 53,560
Feb. 11–13, southwestern Ontario Flooding/Water 42,420 52,506
April 25, southwestern, southcentral, eastern Ontario Windstorm/Hail/Lightning/Water 40,981 50,725
July 26, Hamilton, Toronto, North York ON Flooding/Windstorm/Lightning/ 173,312 214,519
Water
Aug. 1–3, Calgary, Camrose AB Windstorm/Hail/Lightning/Water 346,548 428,944
Aug. 14, Brandon, Winnipeg, Steinbach MB Hail/Lightning/Water 72,866 90,191
Aug. 20, Greater Toronto Area ON Windstorm/Hail/Lightning/Water 96,183 119,052
Total 2009 815,582 1,009,497
2010
March 13, Greater Toronto Area ON Flooding/Windstorm/Water 26,090 31,711
May 28, Winnipeg MB Flooding/Water 33,417 40,617
June 6, Leamington ON Windstorm/Lightning/Water 123,864 150,551
June 16–18, Blood Tribe Reserve, Medicine Hat AB; Flooding/Water 41,852 50,869
Maple Creek SK
June 29, Saskatoon SK; Alberta Hail/Flooding/Windstorm/ 85,210 103,569
Lightning
July 2, Kawacatoose First Nation near Raymore and Yorkton SK Windstorm/Hail/Lightning/Water 31,074 37,769
July 12, Calgary AB Hail/Flooding/Windstorm/ 487,086 592,029
Lightning
Aug. 22, Calgary AB Hail/Windstorm/Lightning/Water 84,460 102,657
Sept. 21, Newfoundland and Labrador Flooding/Windstorm/Lightning/ 48,161 58,537
Water
Sept. 30–Oct. 1, Cornwall ON; Sherbrooke QC Flooding/Windstorm/Lightning/ 75,754 92,075
Water
Dec. 13, New Brunswick, Nova Scotia Flooding/Water 33,905 41,210
Total 2010 1,070,873 1,301,593
2011
March 5–8, Ontario, Quebec Winter storm/Windstorm/Water 34,467 40,705
April 10–11, Thunder Bay ON, southern and eastern Ontario Hail/Windstorm/Lightning/Water 79,066 93,376
April 27–28, Ontario, Quebec Windstorm/Hail/Lightning/ 199,888 236,065
Winter storm
May 15–16, Slave Lake AB Fire/Windstorm 528,139 623,724
June 2, Manitoba, Saskatchewan Hail/Lightning/Water 38,357 45,299
June 7, southern Ontario Hail/Windstorm/Lightning/Water 25,901 30,589
June 17–21, Weyburn, Estevan SK Flooding/Water 33,258 39,277
June 23–24, Ontario, Quebec Flooding/Hail/Windstorm/ 32,836 38,779
Lightning

IBC 2022 FACTS 20

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
July 7, Red Deer, Bergen, Olds, Bowden, Innisfail AB Windstorm/Hail/Lightning/Water 58,589 69,193
July 18, Prince Albert, Big River, Waskesiu SK Windstorm/Hail/Lightning/Water 76,056 89,821
Aug. 15, Saskatoon, Biggar, Warman SK Hail/Flooding/Windstorm/ 69,790 82,421
Lightning
Aug. 21, Goderich ON Windstorm/Lightning/Water 112,859 133,285
Aug. 28–30, Atlantic provinces, Quebec Flooding/Windstorm/Lightning/ 102,362 120,888
Water
Nov. 27, Calgary and surrounding areas AB Windstorm 172,733 203,995
Total 2011 1,564,301 1,847,415
2012
March 2–3, Ontario, Quebec Windstorm/Winter storm/Water 30,713 35,735
May 26–29, Thunder Bay ON; Montreal QC Flooding/Lightning/Water 225,471 262,339
June 25–27, Saskatchewan Windstorm/Hail/Lightning/Water 79,572 92,583
July 11–12, Edmonton AB Flooding/Hail/Lightning/Water 71,759 83,493
July 22–23, Hamilton, Ottawa ON Windstorm/Flooding/Lightning/ 92,650 107,800
Water
July 26, Cardston, Nanton AB Hail/Lightning/Water 99,437 115,697
Aug. 11, southern Quebec Flooding/Windstorm/Lightning/ 57,355 66,734
Water
Aug. 12, Calgary AB Hail/Lightning/Water 521,647 606,945
Aug. 14, Calgary AB Hail/Windstorm/Lightning/Water 95,253 110,828
Oct. 29–31, Ontario, Quebec Flooding/Windstorm/Lightning/ 54,481 63,390
Water
Total 2012 1,328,338 1,545,544
2013
April 11–12, southern Ontario Winter storm/Windstorm/Water 36,722 42,344
May 31–June 1, Quebec Flooding/Windstorm/Hail/Water 27,669 31,905
June 19–24, southern Alberta Flooding/Water 1,599,330 1,844,179
July 2, Edmonton region AB Hail/Windstorm/Lightning/Water 64,052 73,858
July 8, Greater Toronto Area ON Flooding/Lightning/Water 924,803 1,066,385
July 19, Regina SK Hail/Lightning/Water 73,856 85,163
July 19, southern regions Ontario, Quebec Hail/Windstorm/Lightning/Water 167,001 192,568
July 23, Lethbridge, High River AB Hail/Windstorm/Lightning/Water 51,599 59,499
Dec. 20–26, Ontario, Quebec, Atlantic provinces Winter storm/Windstorm/Water 201,818 232,715
Total 2013 3,146,850 3,628,615
2014
June 17, Angus ON, southern Ontario Windstorm/Lightning/Hail/Water 50,567 57,191
June 28–30, southern regions Saskatchewan, Manitoba Flooding/Windstorm/Water 124,811 141,160
July 5–6, Quebec, New Brunswick, Nova Scotia, Prince Edward Island Windstorm/Flooding/Water 38,338 43,360
July 17, Alberta, Saskatchewan Hail/Windstorm/Lightning/Water 72,924 82,476
Aug. 4, Greater Toronto Area ON Flooding/Lightning/Hail/Water 77,540 87,697
Aug. 7, central Alberta Hail/Windstorm/Lightning/Water 546,468 618,050
Nov. 24–25, southern Ontario, southern Quebec Windstorm/Flooding/Water 79,134 89,500
Total 2014 989,782 1,119,434

IBC 2022 FACTS 21

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars

2015
June 12, Medicine Hat AB; Weyburn SK; Virden MB Hail/Windstorm/Lightning/Water 98,184 109,817
June 22–23, Essex, London, Toronto, Kingston ON Flooding/Windstorm/Lightning/ 29,188 32,646
Water
July 21, Rocky Mountain House, Red Deer, Lacombe, Ponoka, Hail/Windstorm/Flooding/Water 259,344 290,072
Crossfield AB
July 22, Calgary, Strathmore, Hussar, Kerrobert AB; Hail/Windstorm/Lightning/Water 45,676 51,088
Regina, Anglin Lake SK
Aug. 4–5, Calgary, Olds AB Hail/Flooding/Windstorm/Water 167,236 187,051
Aug. 29, Vancouver BC, southwestern British Columbia Windstorm/Water 34,768 38,887
Total 2015 634,396 709,561

2016
March 23–26, Fergus, Orangeville, Barrie, Newmarket ON Winter storm/Windstorm/Water 28,155 31,049
May 3–19, Fort McMurray AB Fire 3,752,981 4,138,801
June 24–25, Saskatoon SK; West Hawk Lake MB; Killarney, Melita, Flooding/Windstorm/Hail/Water 37,247 41,076
Thunder Bay ON
June 28–30, Okotoks, Calgary, Edmonton, Ponoka AB; southern Hail/Flooding/Windstorm/Water 93,097 102,668
Saskatchewan; southern Manitoba
July 8–11, Edmonton, Calgary AB; southwest Manitoba; Estevan SK Hail/Flooding/Windstorm/Water 56,103 61,871
July 8, Bradford, Markdale, London ON Hail/Windstorm/Lightning/Water 47,615 52,510
July 15–16, Calgary AB; Swift Current SK Hail/Flooding/Windstorm/Water 72,430 79,876
July 18–20, Medicine Hat AB; Outlook SK; Winnipeg MB Hail/Windstorm/Lightning/Water 105,684 116,549
July 22, Moose Jaw SK Hail/Windstorm/Lightning/Water 77,401 85,358
July 27, Toronto ON; Saguenay QC Hail/Windstorm/Lightning/Water 65,813 72,579
July 30–Aug. 1, Calgary, Airdrie, Fort McMurray AB; Yorkton, Melville SK; Hail/Windstorm/Flooding/Water 462,528 510,078
Winnipeg MB
Sept. 28–30, Windsor ON Flooding/Windstorm/Water 156,170 172,225
Oct. 9–11, Sydney, Cape Breton NS; Burgeo NL; New Brunswick; Prince Windstorm/Flooding/Water 108,591 119,755
Edward Island
Total 2016 5,063,815 5,584,394

2017
March 8, Windsor, Sarnia, London, Niagara Falls, St. Catharines, Windstorm 110,894 120,419
Hamilton ON
March 11, St. John's, Torbay, Avalon Peninsula NL Windstorm 65,140 70,735
April 5–7, Sainte-Thérèse, Rosemère, Blainville, Sainte-Hyacinthe QC; Flooding/Water/Winter storm 111,424 120,994
Ontario
May 5–7, Minden, Peterborough, Cumberland ON; Gatineau, Flooding/Water 116,456 126,458
Laval, Montreal QC; Saint John River NB; Cape Breton NS
May 23–24, Vancouver BC; Edmonton, Calgary, Red Deer, Windstorm/Water/ Flooding 68,858 74,772
Lacombe AB; Saskatchewan
June 2, Saskatoon SK Hail/Windstorm/Lightning/Water 46,951 50,984
June 20, Red Deer, Innisfail, Sylvan Lake, Pine Lake, Edmonton AB Hail/Windstorm/Water 36,069 39,167
July 7–Sept 27, Ashcroft, Cache Creek, Loon Lake, Pressy Lake BC Fire 46,408 50,394
July 12–13, Drayton Valley, Edmonton, Breton AB Hail/Windstorm/Flooding/Water 35,254 38,282
July 15–27, Williams Lake and surrounding areas BC Fire 90,940 98,751

IBC 2022 FACTS 22

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
July 23, Wetaskiwin, Red Deer, Edmonton, Calgary, Bashaw, Hail/Windstorm/Flooding/ 73,326 79,624
Camrose AB Lightning
July 27–29, Mayerthorpe, Sangudo, Maskwacis, Red Deer, Edson, Hail/Windstorm/Flooding/Water 50,493 54,830
Westlock AB; Yorkton, Melville SK
Aug. 28–29, Windsor, Tecumseh, Essex ON Flooding/Water 169,422 183,974
Oct. 16–18, Calgary, Medicine Hat AB; Regina, Moose Jaw, Saskatoon Windstorm/Water/Fire 105,733 114,814
SK; Winnipeg, Dauphin MB; British Columbia
Oct. 29–30, Kingston, Ottawa ON; Gatineau, Wakefield QC Flooding/Water/Windstorm 99,847 108,423
Total 2017 1,227,215 1,332,620

2018
Jan. 11–14, Sherbrooke QC; Sussex NB; Corner Brook NL; Ontario; Water/Flooding/Windstorm/ 54,205 57,537
Quebec; New Brunswick; Newfoundland and Labrador; Nova Scotia; Winter storm
Prince Edward Island
Feb. 19–22, Brantford, Cambridge, Greater Toronto Area, London ON; Water/Flooding/Winter storm 60,696 64,427
Cookshire-Eaton, Eastern Townships QC
April 4–5, Niagara, Greater Toronto Area ON; Quebec Windstorm/Winter storm/Water/ 102,360 108,652
Flooding
April 14–17, Greater Toronto Area, Leamington, Hamilton, Guelph, Winter storm/Flooding/Water/ 254,323 269,956
Kitchener, Waterloo, London, Chatham-Kent, Ottawa ON; Gatineau QC Windstorm
May 4–5, Hamilton, Toronto and Greater Toronto Area ON; Quebec Windstorm/Water 685,124 727,238
June 14, Estevan, North Portal, Bienfait SK; Belmont, Winkler MB Hail/Windstorm/Water/Flooding 120,556 127,966
July 6–7, Lakeland region, Neilburg, Langham SK; Lloydminster AB Hail/Windstorm/Water 57,558 61,096
July 13–14, Ponoka, Red Deer, Alix, Vermillion, Stettler, Bowden AB; Hail/Windstorm/Water/Lightning 42,115 44,704
Saskatchewan
Aug. 1–4, Calgary, Beaverlodge AB; Alonsa, Silver Ridge, Hail/Windstorm/Water/Lightning 141,412 150,104
Margaret Bruce Beach MB; Saskatchewan
Aug. 7–8, Downtown Toronto, North York ON Water/Flooding 164,648 174,769
Sept. 21, Dunrobin, Ottawa, Nepean ON; Gatineau QC Windstorm/Hail/Water/Flooding 350,828 372,393
Dec. 20, Southern Gulf Islands, Vancouver Island, Surrey, Windstorm/Water/Flooding 84,525 89,721
Abbotsford, Vancouver BC
Total 2018 2,118,350 2,248,563

2019
Jan. 24–25, Saint John, Sussex, Moncton NB; Montreal, Water/Flooding/Windstorm/ 38,052 39,619
Quebec City QC; Nova Scotia; Prince Edward Island Winter storm
Feb. 3–5, Greater Toronto Area, Ottawa, Orillia ON; Gatineau, Water/Flooding/Windstorm/ 81,499 84,855
Montreal, Sherbrooke, Quebec City QC Winter storm
Feb. 24–25, Niagara region, Hamilton, Greater Toronto Area ON; Windstorm/Water/Flooding/ 89,530 93,217
Quebec Winter storm
March 9–11, Greater Toronto Area ON; Quebec Water/Flooding/Windstorm/ 71,818 74,775
Winter storm
March 13–16, Greater Toronto Area, Kitchener, Bolton, Peterborough Flooding/Water/Windstorm/ 145,776 151,779
ON; Quebec; New Brunswick; Nova Scotia Winter storm
April 18–May 14, Ste-Marthe-sur-le-Lac, Laval, Sainte-Marie QC; Flooding/Water/Windstorm 299,313 311,638
Huntsville, Bracebridge ON; New Brunswick

IBC 2022 FACTS 23

SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
July 13–15, Mistusinne, Luseland, Eston, Balcarres, Brownlee, Hail/Windstorm/Water/Flooding 60,764 63,266
Saskatoon SK; Portage La Prairie, Sage Creek MB; Alberta
July 30–31, Stettler, Castor, Cadogan AB; Saskatchewan Hail/Water/Flooding 104,968 109,290
Aug. 2, Spruce Grove, Stony Plain, Edmonton, Drayton Valley AB Hail/Windstorm 101,524 105,704
Sept. 7–9, Sambro Creek, Halifax, Dartmouth NS; Moncton, Saint John Windstorm/Water/Flooding 157,400 163,881
NB; Prince Edward Island; Newfoundland and Labrador; Quebec
Oct. 31–Nov. 2, Niagara region ON, eastern Ontario; Windstorm/Water/Flooding 255,368 265,883
Montreal and area QC; New Brunswick; Nova Scotia; Prince Edward
Island; Newfoundland and Labrador
Total 2019 1,406,012 1,463,907

2020
Jan. 11–12, Greater Toronto Area, Kitchener, Innisfil, Water/Flooding/Windstorm/
New Hamburg ON; Montérégie QC Winter storm
Jan. 17–18, St. John's NL Winter storm/Windstorm/Water
Jan. 31–Feb. 1, Vancouver, Victoria, District of Kent, Cowichan Valley BC Flooding/Water/Windstorm
April 26–May 3, Fort McMurray AB Flooding/Water 525,627 543,276
June 13–14, Calgary, Airdrie, Taber AB; Regina SK Hail/Water/Windstorm 1,158,644 1,197,547
July 24, Calgary, Drumheller, Airdrie, Strathmore AB Hail/Flooding/Water/Windstorm
Aug. 2–3, Calgary, Edmonton, Drumheller, Crossfield, Carbon, Hail/Water/Windstorm/Flooding
Killam AB; Macklin SK
Oct. 10, Montreal, Laurentides and southern Quebec Hail/Windstorm
Nov. 15–16, southern and central Ontario, including Greater Toronto Windstorm/Water/Flooding
and Hamilton Area, Niagara region, Lake Erie shoreline,
Muskoka region, Lake Ontario shoreline ON
Total 2020 2,231,507 2,306,434
2021
Jan 12-14, Victoria, Abbotsford, Calgary, Taber, Saskatoon, Regina, Windstorm/Winterstorm
south Alberta, central/southern Saskatchewan; BC, AB, SK
Jan 19-20, Edmonton, Prince George, Saskatoon, central Alberta, Windstorm
northern BC Interior; BC, AB, SK
March 26-29, Toronto, GTA, southern/eastern Ontario, Windstorm/Flood/Water
southern Quebec, central/northern New Brunswick, northern
Maritimes, western Newfoundland; ON, QC, NB, NS, NL
June 30 - September 5, Lytton, BC Fire
July 02, Calgary metro area, AB Hail/Flood/Water/Windstorm 570,441 570,441
July 15, Barrie, Innisfil, Kawartha Lakes, Little Britain, Manilla, Lindsay, Windstorm/Water
Lake of Bays, ON
July 22-23, Regina, Foam Lake, Okla, Duck Mountain, Loon Lake, Hail, Windstorm/Water/Lightning
Saskatchewan; AB, SK, MB
August 04 - Sept 02, Monte Lake, Bouleau Lake, Killiney Beach, Ewings Fire/Water
Landing, BC
August 31 - September 01, Regina, Assiniboia, Yorkton, SK; Hail/Water/Windstorm/Lightning
Calgary, AB, SK

IBC 2022 FACTS 24

 SECTION 1

CATASTROPHIC LOSSES
BY EVENT IN $000, 1983 TO 2021

LOSS LOSS
DATE AND PLACE EVENT TYPE plus loss adjustment plus loss adjustment
expenses expenses in 2021 dollars
September 7 - 8, Kinsbridge, Lucknow, Saugeen Shores, Harriston, Windstorm/Water/Hail/Flood
Kenilworth, GTA, ON
September 10 - 11, St. John's, Avalon Peninsula, NL Windstorm/Water/Flood
September 22 - 23, Toronto, GTA, Waterloo, London, SW Ontario, Flood/Water/Windstorm
Kawarthas, Laurentians, Ottawa River Valley, ON, QC
November 13 - December 2, Abbotsford, Merritt, Princeton, Chilliwack, Flood/Water/Windstorm 687,432 687,432
Nanaimo, Duncan, Lytton, southwestern, BC, AB, SK, MB
December 11 - 13, Toronto, Hamilton, GTA, Windsor, London, Montreal, Windstorm/Water/Flood
Quebec City, southern Ontario, southern Quebec, Gaspe, Acadian
Peninsula, northern Nova Scotia, western Newfoundland,
ON, QC, NS, NB, NL
Total 2021* 2,307,554 2,307,554

*Preliminary
Source: 1983 to 2007: IBC, PCS Canada, Swiss Re and Deloitte
Source 2008 -2021: CatIQ

IBC 2022 FACTS 25

SECTION 1

REGULATION AND
REGULATORY ISSUES
The federal and provincial governments regulate the P&C insurance
industry. The provincial governments regulate market conduct, and
the federal Office of the Superintendent of Financial Institutions
(OSFI) is the industry’s primary prudential (solvency) regulator.

While it is impossible to pinpoint the exact costs associated Market conduct

with regulatory compliance by the industry, it’s estimated that
they are in the hundreds of millions of dollars. The Canadian Council of Insurance Regulators (CCIR) is an
association of Canada's provincial insurance regulators.
Auto insurance, in particular, is very highly regulated. It works to regulate insurers' governance, practices and
The provincial governments determine the content of policies with respect to the treatment of consumers; this
auto insurance policies, how claims are handled and how is known as "market conduct." Market conduct measures
complaints are managed; they also administer rate approval help ensure fair treatment of customers throughout
systems. IBC is advocating for auto insurance reform in several the insurance sales, distribution and claims settlement
provinces, including Alberta, Ontario, Nova Scotia and New cycle. IBC engages with CCIR on behalf of its members
Brunswick. to discuss the industry's perspectives or new or revised
market conduct expectations in respect of CCIR's guiding
Through IBC, the P&C insurance industry also engages with
principles.
regulators and the federal government to ensure that new
regulations balance the needs of consumers and take into IBC also monitors global regulations to assess their
consideration insurers' business models. potential impact on Canadian insurers. This involves
ensuring that international regulations are sensitive to the
For example, the industry is in ongoing discussions with
domestic regulatory landscape and the particulars of the
regulators and tax authorities about required changes to
P&C insurance industry in Canada. IBC also participates
capital, regulatory reporting and taxes in light of the adoption
in discussions led by the Global Federation of Insurance
of the new accounting framework, International Financial
Associations, providing input into the development of the
Reporting Standard on Insurance Contracts (IFRS 17). IFRS 17
many aspects of international regulations that affect P&C
takes effect on January 1, 2023, and presents a fundamentally
insurers.
different view of accounting that will lead to transformational
changes in all facets of insurance operations, from pricing and
underwriting to systems and products. As the adoption date
nears, the industry is collaborating with OSFI to manage a
smooth and effective transition.

IBC and P&C insurers are also working with OSFI to address
concerns related to various proposals, including OSFI's
assurance expectations over key regulatory returns, as well as
various non-financial risk areas such as cyber insurance and the
use of technology in insurance operations. IBC and the industry
will continue to collaborate with OSFI on these matters
through 2022 and 2023.

IBC 2022 FACTS 26

SECTION 2
SECTION 2
Canada’s P&C insurance industry by line of business
Canada’s P&C insurance industry by line of business
Auto insurance Home insurance Business insurance
Auto insurance
29 Mandatory insurance Home insurance
33 Types of coverage Business
34 Types insurance
of coverage
29 Optional insurance 33 Premiums and claims 34 Premiums and claims
30 Mandatory insurance 50 Types of coverage 53 Types of coverage
29 “No-fault” insurance
30 Optional insurance 50 Premiums and claims 53 Premiums and claims
30 What’s mandatory where
30 “No-fault” insurance
31 Premiums and claims
31 What’s mandatory where
32 Average losses
44 Premiums and claims
45 Average losses

IBC 2022 FACTS 27

SECTION 2

AUTO INSURANCE
In the event of a collision, auto insurance covers the owner of
the vehicle, the driver operating the vehicle with the owner’s
consent, passengers, pedestrians and property.

In 2021, auto insurance, which is required by law in every

Canadian province and territory, accounted for approximately
39% of the insurance business written by P&C insurers.

There are about 112 private P&C insurance companies competing

for auto insurance business in Canada. In addition to these
private insurers, government-owned insurers in British Columbia,
Saskatchewan and Manitoba provide the mandatory component
of auto insurance in those provinces, in addition to some optional
coverages. In Quebec, a portion of the mandatory component
is provided by the government-owned insurer and the other
portion by private insurers.

MANDATORY INSURANCE

OPTIONAL INSURANCE

“NO FAULT” INSURANCE

IBC 2022 FACTS 28

SECTION 2

AUTO INSURANCE
MANDATORY INSURANCE “NO-FAULT” INSURANCE
There are three kinds of mandatory coverage: The concept of “no-fault” insurance developed over time as a
way to reduce the legal and administrative costs associated
Accident benefits coverage helps people recover from with having to prove fault in a vehicle collision in order to
injuries sustained in a collision. It pays for medical care, recover damages for the losses that were suffered.
rehabilitation, income replacement and other applicable
Before no-fault, insurers required those involved in a collision
benefits to aid the recovery of collision victims, including
to establish which driver was at fault. The insurer of the
drivers, passengers and pedestrians. In the case of a death,
at-fault driver would be responsible for paying toward the
this coverage also provides funeral expenses and survivor
losses resulting from injuries arising from the incident that
benefits. This insurance is mandatory in all provinces
were suffered by those who were not at fault. This process
except Newfoundland and Labrador. In some provinces, it
was lengthy and required expensive investigation and often
is referred to as “Section B” benefits.
litigation.
Accident benefits are paid on a no-fault basis. This means
In a pure no-fault car insurance system, if a person is injured
that the benefits are available to anyone injured in a
or their car is damaged in a collision, the person deals
vehicle collision regardless of whether they were “at fault”
directly with their own insurance company, regardless of
for the collision. See details under the “No-Fault Insurance”
who is at fault. The injured person does not have the right
heading in this section.
to sue the person who was at fault to recover damages for
Third-party liability (TPL) coverage protects the insured their injury.
driver and/or owner of the vehicle if the motor vehicle
In most provinces and territories, the person who did not
injures or kills someone or damages someone’s property
cause the collision has the right to sue the at-fault driver for
through the fault of the driver. TPL is required by law in all
damages. In some provinces, however, the person who did
provinces. Within TPL coverage, most provinces operate
not cause the collision has the right to sue the at-fault driver
a direct compensation property damage (DCPD) vehicle
for pain and suffering damages only if their injuries meet a
damage framework, whereby a driver works with their own
prescribed threshold.
insurer to repair their vehicle and other damaged property
inside the vehicle instead of recovering damages from Every province offers some degree of no-fault insurance.
the at-fault driver. DCPD is in place in Ontario, Quebec, Two provinces – Manitoba and Quebec – have pure no-fault
New Brunswick, Nova Scotia, Prince Edward Island, and systems. Other provinces use a mix of no-fault and tort-
Newfoundland and Labrador, and took effect in Alberta on based systems. Some specify accident benefits limits and
January 1, 2022. the right to sue for additional compensation under certain
specified situations, such as when injuries are determined to
Uninsured auto coverage protects an insured person if
be permanent and serious.
they were injured through the fault of a driver who does
not have auto insurance or is unidentified. Every province and territory offers some
degree of no-fault insurance.
OPTIONAL INSURANCE
Collision and comprehensive insurance are optional in
all provinces except Saskatchewan and Manitoba, where
both are mandatory.
Collision coverage pays for the cost of repairing or
replacing a vehicle following a collision with another
vehicle or object, such as a tree, house, guardrail or
pothole. Comprehensive coverage pays for repairs
to or replacement of a vehicle for damage caused by
something other than a collision; for example, fire, theft,
vandalism or wind.
Pure no-fault systems with no right to sue
Mix of no-fault and tort-based systems

IBC 2022 FACTS 29

SECTION 2

AUTO INSURANCE
What’s mandatory where
This content is published in full on IBC's website and as of This information is for educational purposes only; IBC
2022, will no longer be published in the Facts Book. recommends consulting a qualified professional for further
assistance.
Auto insurance falls within provincial jurisdiction, and the
rules are slightly different in each province.

IBC 2022 FACTS 30

SECTION 2

AUTO INSURANCE
Premiums and claims
Private insurers wrote auto insurance policies for a total of In 2021, Canadian private P&C insurers paid out
$29.8 billion in direct written premiums in 2021. $17.1 billion in direct claims incurred to policyholders for
all types of auto insurance coverage: third-party liability,
Automobile insurance premiums, like all insurance premiums, accident benefits, collision and comprehensive, and other
are determined based on risk. Insurers estimate how likely it coverages. Auto claims payouts accounted for 45% of all
is that a customer – and a group of customers with a similar direct claims incurred. The vast majority of claims – 83.7% –
set of circumstances – will make a claim, and how much those were for incidents involving private passenger vehicles.
claims will likely cost in a given year. A number of factors help
to determine car insurance premiums. These include where a A note about terminology: The following three tables
customer lives, the type of vehicle the customer drives, how show claims costs by accident year, which is how much
the vehicle is used, and the customer’s driving record and insurers will have to pay out regarding all incidents that
driver profile. (A driver profile includes the claims history of a occurred in that year (in some instances, claims arising
group of customers of the same age, for example.) from those incidents may be paid in future years).

COSTS OF CLAIMS FOR PRIVATE PASSENGER AUTO BY TYPE OF COVERAGE IN $000, 1995 TO 2020
THIRD-PARTY LIABILITY ACCIDENT COLLISION COMPREHENSIVE OTHER TOTAL
(INCLUDES DCPD BENEFITS
WHERE APPLICABLE)

1995 1,873,421 1,326,969 745,668 668,055 142,629 4,756,741

1996 2,042,668 1,299,208 741,631 670,471 161,114 4,915,092
1997 2,334,542 981,828 714,058 542,327 205,174 4,777,929
1998 2,601,141 1,132,328 735,814 578,644 251,870 5,299,796
1999 3,050,302 1,365,574 829,869 537,762 282,720 6,066,227
2000 3,321,590 1,615,065 964,951 579,363 333,714 6,814,682
2001 3,490,779 1,748,033 978,222 588,400 379,719 7,185,153
2002 3,812,894 2,219,847 1,065,950 571,689 428,410 8,098,790
2003 3,608,421 2,084,008 1,010,302 542,331 420,837 7,665,899
2004 3,258,054 1,774,309 934,936 486,695 399,757 6,853,751
2005 3,249,501 1,963,807 989,146 534,151 409,870 7,146,476
2006 3,452,617 2,179,485 1,065,165 533,692 415,216 7,646,176
2007 3,804,933 2,499,385 1,246,512 637,617 442,290 8,630,738
2008 3,924,424 2,861,450 1,265,991 663,710 463,426 9,179,001
2009 4,284,666 3,964,697 1,208,918 664,655 482,248 10,605,184
2010 4,340,868 3,984,641 1,158,894 749,435 462,395 10,696,232
2011 4,184,042 2,329,416 1,236,996 643,629 458,496 8,852,579
2012 4,277,284 2,387,209 1,238,674 787,297 421,193 9,111,656
2013 4,646,659 2,626,543 1,384,071 802,441 459,440 9,919,155
2014 4,847,109 2,678,646 1,491,894 856,949 483,262 10,357,860
2015 5,396,752 2,996,881 1,601,844 895,824 533,254 11,424,555
2016 5,641,068 3,053,712 1,744,014 1,105,876 622,485 12,167,155
2017 5,837,533 2,810,295 1,922,869 951,730 706,074 12,228,501
2018 6,157,795 2,791,259 2,132,916 1,080,400 841,626 13,003,996
2019 6,223,939 2,823,188 2,251,727 1,080,579 885,165 13,264,598
2020 4,526,889 2,019,515 1,520,790 1,316,763 729,059 10,113,016

Source: GISA Automobile Insurance Experience Exhibits

Ontario, Alberta, Atlantic Provinces, Yukon, Nunavut, Northwest Territories

IBC 2022 FACTS 31

SECTION 2

AUTO INSURANCE
PRIVATE PASSENGER AUTO INSURANCE CLAIMS, 2020
THIRD-PARTY LIABILITY ACCIDENT COLLISION COMPREHENSIVE
(INCLUDES DCPD WHERE APPLICABLE) BENEFITS

Number of insured vehicles 12,309,606 12,294,307 8,509,224 9,394,602

Number of claims 281,351 79,173 190,497 280,507
Total cost of claims in $000 4,526,889 2,019,515 1,520,790 1,316,763

Source: 2020 GISA Automobile Insurance Experience Exhibits

COMMERCIAL AUTO INSURANCE CLAIMS, 2020

THIRD-PARTY LIABILITY ACCIDENT COLLISION COMPREHENSIVE
(INCLUDES DCPD WHERE APPLICABLE) BENEFITS

Number of insured vehicles 875,490 887,015 359,505 463,032

Number of claims 13,487 1,998 5,590 10,151
Total cost of claims in $000 454,639 73,241 68,567 92,264

Source: 2020 GISA Automobile Insurance Experience Exhibits

Average losses
Insurers track loss amounts in two ways. They calculate the The average cost per insured vehicle is calculated by
average cost per claim (severity) and the average cost per dividing the total cost of claims by the number of
insured vehicle (loss cost). insured vehicles. In 2020, the national average cost per
insured private passenger vehicle was $10,113,016,249 ÷
The average cost per claim is calculated by dividing the total 12,309,606 = $822.
cost of claims by the number of claims. In 2020, the national
average cost per claim for private passenger auto insurance
claims was $10,113,016,249 ÷ 910,076 = $11,112.

AVERAGE COST ($) PER CLAIM BY TYPE OF COVERAGE FOR

PRIVATE PASSENGER AUTOMOBILE INSURANCE, 2016 TO 2020
TYPE OF COVERAGE 2016 2017 2018 2019 2020

Third-party liability 13,971 13,866 14,335 14,338 16,090

Accident benefits 25,901 23,269 23,061 23,089 25,508
Collision 6,664 6,962 7,302 7,595 7,983
Comprehensive 3,351 3,280 3,595 3,680 4,694

Source: 2020 GISA Automobile Insurance Experience Exhibits

AVERAGE COST ($) PER INSURED VEHICLE BY TYPE OF

COVERAGE FOR PRIVATE PASSENGER VEHICLES, 2016 TO 2020
TYPE OF COVERAGE 2016 2017 2018 2019 2020

Third-party liability 490.35 497.33 513.18 509.85 367.75

Accident benefits 265.69 239.46 232.68 231.64 164.26
Collision 215.33 234.53 256.05 266.61 178.72
Comprehensive 121.95 104.21 117.07 116.38 140.16

Source: 2020 GISA Automobile Insurance Experience Exhibits

IBC 2022 FACTS 32

SECTION 2

HOME INSURANCE
Unlike auto insurance, the purchase of home or personal property
insurance is not mandated by law. However, it provides coverage
for an individual’s single largest investment – a home. In fact, most
banks and mortgage holders require proof of insurance on property
as security for the loan or mortgage.

As the second-largest line of P&C insurance business after There are various types of policies:
auto insurance, home or personal property insurance
includes house, condominium, cottage, mobile home • An all-perils policy provides coverage for a home
and tenant’s insurance. It covers the property, personal and its contents from loss or damage from all
belongings and personal liability of the policyholder and perils except those specifically excluded. A peril is
the policyholder’s spouse or partner, children (with age a chance event that is unexpected and accidental.
limits) and dependants (with age and other limits). Some perils are excluded from all-perils policies – for
example, earthquakes. Coverage for this peril may
As with all insurance premiums, insurers consider a be purchased as a policy add-on. Optional coverage
number of risk factors to determine the price they charge for the peril of overland flooding has become more
an individual for home insurance. For example, insurers widely available for homeowner’s insurance policies
look at the neighbourhood and the frequency and types in the last five years. In 2015, some insurers began
of past claims in that area; the cost to replace a home’s offering this coverage and, since then, others have
contents and restore a home to its previous condition; the entered the market.
condition and age of the roof; the type of heating, electrical
• A broad-form policy provides coverage for a home
and plumbing systems; and details about any additional
from loss or damage from all perils except those
structures on the property.
specifically excluded, but only insures the contents
Insurers analyze these risks to estimate how likely it is that against perils that are specifically named in the
a policyholder, or a group of people with a similar set of policy.
circumstances, will make a claim and how much that claim • A standard, basic or named perils policy provides
will cost. coverage for a home and its contents against perils
specifically named in the policy.

Types of coverage • A no-frills policy provides very basic coverage for

a property that does not meet an insurer’s normal
Home insurance generally covers a homeowner’s underwriting standards.
residential building, outbuildings, contents, additional living
expenses (if an insured event damages the home so that
Premiums and claims
it is uninhabitable during the repairs) and personal liability.
Tenant’s insurance generally covers loss of or damage In 2021, private P&C insurers wrote $16.2 billion in direct
to personal belongings, additional living expenses and written premiums for personal property insurance and
personal liability. paid out $7.6 billion for direct claims incurred.

IBC 2022 FACTS 33

SECTION 2

BUSINESS INSURANCE
Operating a business comes with an element of risk and
unpredictability. Businesses, including non-profit organizations such
as charities, buy insurance as part of an effective risk management
plan. In large enterprises, risk managers evaluate any perils to the
business, implement programs to reduce and manage those dangers,
and buy insurance to backstop remaining exposures.

Smaller businesses without the benefit of risk managers depend • Errors and omissions or professional liability insurance
more on the advice of insurance representatives to identify covers individuals and organizations that give professional
risks and help them choose the appropriate insurance to guard advice (for example, consultants and financial planners).
against potential losses. It protects them if clients claim damages as a result of
inaccurate advice, misrepresentation, negligence, or
Much like any other business, home-based businesses require violation of good faith and fair dealing.
coverage for possible business-related losses. For example, a
• Business interruption insurance can cover against lost
home-based business owner may require commercial liability
earnings during the period of a shutdown due to an
coverage since business risks may not be covered by the liability
insured event such as a fire or explosion. It can cover the
section of their home insurance policy.
time the business needs to resume profitability. Some
business owners buy additional insurance to cover extra
Types of coverage operating expenses – for example, a new telephone
system, extra advertising costs, rentals and moving costs
There are various types of business insurance policies: – if the business must carry on at another location or
• Commercial general liability covers a business and its outsource work during the shutdown.
employees for actions against them that result in bodily injury, • Cyber insurance is relatively new and can cover losses
property damage, personal injury, advertising injury, tenant’s related to a cyber attack. Coverage may include:
legal liability and other types of loss or damage to third - Regulatory defence expenses
parties. - Legal and civil damages
• Commercial property insurance is designed to protect the - Security breach remediation and notification expenses
physical assets of a business against loss or damage from a - Crisis management expenses
broad range of causes. Physical assets include: - Forensic investigations expenses
- Equipment -C omputer program and electronic data restoration
- Inventory and supplies expenses
- Office furniture and fixtures - E-commerce extortion and reward payments coverage
- Computers and electronics - Business interruption and additional expenses.
- Personal property of employees while on-site
- Customer property at the business site Premiums and claims
- Lighting systems
In 2021, private P&C insurers wrote $13.4 billion in direct
- Windows
written premiums for commercial property insurance and
- Outdoor signs.
paid out $5.7 billion in direct claims incurred.
• Directors’ and officers’ liability insurance covers directors and
officers of organizations for actual or alleged errors, breach of Also in 2021, private P&C insurers wrote $10.4 billion in direct
duty, errors or omissions, misleading statements and neglect written premiums for commercial liability insurance and paid
in carrying out their responsibilities for the organization. out $5.4 billion in direct claims incurred.

IBC 2022 FACTS 34

SECTION 3
IBC Members

IBC
IBC 2020
2022 FACTS
FACTS 35
SECTION 3

IBC MEMBERS
List of IBC members, as of July 1, 2022
COMPANY AND GROUP

A C ​Everest Insurance Company of Canada

AIG Canada​ CAA Club Group ​Everest Reinsurance Company
​ llianz Global Risks (US) Insurance
A Alberta Motor Association Insurance
Company Company F

​ llstate Canada Group of Companies

A BCAA Insurance Corporation ​Federal Insurance Company of Canada
(ACG) L​ a Capitale Financial Group / SSQ Fenchurch General Insurance Company
​Allstate Insurance Company of Canada Insurance
G
Esurance Insurance Company of ​La Capitale assurances générales inc.
Canada ​General Reinsurance Corporation
​Unica Insurance Incorporated
​ Pafco Insurance Company ​Gore Mutual Insurance Company
​L’Unique assurances générales inc.
​Pembridge Insurance Company CCR RE​ H
​Arch Insurance Canada Ltd. Chubb Insurance Company of Canada ​Hartford Fire Insurance Company
​Atradius Credit Insurance N.V. ​Continental Casualty Company ​HDI Global SE Canada Branch
​Aviva Canada Inc.
​HDI Global Specialty SE
​ Aviva General Insurance Company D

​Aviva Insurance Company of Canada ​Definity Financial Corporation I

​Elite Insurance Company Definity Insurance Company I​ndustrielle Alliance, Assurance auto et
​The Missisquoi Insurance Company habitation inc.
​Pilot Insurance Company
​Perth Insurance Company Prysm Assurances générales inc.
​S & Y Insurance Company
Sonnet Insurance Company​ Insurance Company of Prince Edward
​Scottish & York Insurance Co. Limited
Island (ICPEI)
​Traders General Insurance Company ​Waterloo Insurance Company
​Intact Financial Corporation
​ XIS Reinsurance Company (Canadian
A Desjardins General Insurance Group Inc.​
Ascentus Insurance Ltd.
Branch) ​Certas Direct Insurance Company
​ Belair Insurance Company Inc.
​Certas Home and Auto Insurance
B Company ​Canadian Northern Shield Insurance
​​
The Boiler Inspection and Insurance Company
​Desjardins assurances générales Inc.
Company of Canada The Guarantee Company of North
The Personal General Insurance Inc.
America
​The Personal Insurance Company
​Intact Insurance Company

E ​JEVCO Insurance Company

​Ecclesiastical Insurance Office PLC The Nordic Insurance Company

of Canada
​Electric Insurance Company
​Novex Insurance Company
​ uler Hermes American Credit Indemnity
E
Company ​​Québec Assurance Company

IBC 2022 FACTS 36

SECTION 3

IBC MEMBERS
List of IBC members, as of July 1, 2022
COMPANY AND GROUP

Royal & Sun Alliance Insurance O T

Company of Canada​ ​ dyssey America Reinsurance
O ​TD Insurance
Trafalgar Insurance Company of Corporation (Canadian Branch) ​ Primmum Insurance Company
Canada ​ ld Republic Insurance Company
O ​Security National Insurance Company
​Unifund Assurance Company of Canada
​TD Direct Insurance Inc.
L’Union Canadienne, compagnie ​Omega General Insurance Company
d’assurances ​TD General Insurance Company
Optimum General Insurance
​Western Assurance Company ​TD Home and Auto Insurance
Company
P
L ​Partner Reinsurance Company of the U.S.
Toa Reinsurance Company of America
(Canada Branch)
L​ awyers’ Professional Indemnity ​Peace Hills General Insurance Company
Company Tokio Marine Canada
​Promutuel Assurance
​Liberty Mutual Insurance Company Tokio Marine & Nichido Fire Insurance Co.,
​Protective Insurance Company Ltd.
M Travelers Canada
R
​MAX Insurance St. Paul Fire and Marine Insurance
​Red River Mutual Insurance Company
​​
Mitsui Sumitomo Insurance Company Company
Limited The Dominion of Canada General
S
​Munich Re Group Insurance Company
Saskatchewan Mutual Insurance
​ Munich Reinsurance Company of ​Travelers Insurance Company of
​SCOR Canada Reinsurance Company
Canada Canada
​Sentry Insurance, A Mutual Company
​Temple Insurance Company ​Trisura Guarantee Insurance Company
​Sirius America Insurance Company
​Munich Reinsurance America, Inc. ​Triton Insurance Company
SouthEastern Mutual Insurance Company
​ he Mutual Fire Insurance Company
T
​Starr Insurance and Reinsurance Limited W
of British Columbia
​Swiss Re ​ he Wawanesa Mutual Insurance
T
N Company
​ Swiss Reinsurance Company Ltd.,
​Northbridge Financial Corporation Canadian Branch
X
​ Federated Insurance Company ​Westport Insurance Corporation
​XL Specialty Insurance Company
of Canada
​Northbridge General Insurance Z
Corporation
​Zurich Insurance Company Ltd.
​Verassure Insurance Company
​Zenith Insurance Company

IBC 2022 FACTS 37

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