Catastrophe Losses Decline in Canada, U.S. During First Half of 2014

Catastrophe losses in Canada during the first half of this year fell 98% over last year, with only two catastrophe events designated so far, Property Claims Services reported Wednesday. Both wind and thunderstorm events occurred in June, with the first event’s losses estimated at $34 million. An estimate for the second event is not yet available. Catastrophe losses during the first half of this year (excluding the second June loss event) are also below the five-year average of $641 million, PCS reported.