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May windstorm was Ontario's biggest insured loss in 5 years

A windstorm in early May was the costliest insured event in the Canadian province of Ontario since 2013.

The May 4 storm caused insured losses of C$380 million in Ontario alone and more than C$410 million overall, including in Quebec, according to Catastrophe Indices and Quantification Inc., known as CatIQ. It was the costliest event in Ontario since flooding in Toronto in 2013 caused almost C$1 billion in damage.

The Insurance Bureau of Canada noted that four other major storms have hit Ontario in 2018, with the combined impact from the five events amounting to roughly C$700 million.