28 March 2018Insurance

Cyclone Debbie insured losses rise to A$1.74bn

Insured losses across Queensland and New South Wales from tropical cyclone Debbie have reached A$1.74 billion ($1.33bn), according to the final estimate released by PERILS.

This compares to the third loss estimate of A$1.66 billion, which was issued by the Zurich-based catastrophe data provider in September last year, six months after the event.

Debbie made landfall on March 28 in Australia as a Category 4 severe tropical cyclone, and was declared a 'catastrophe' by the ICA. It caused significant wind and flood damage across the area.

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More on this story

Insurance
28 September 2017   The insured property market loss for tropical storm Debbie, the strongest tropical cyclone in the Australian region since Cyclone Quang in 2015, has reached A$1.658 billion ($1.3 billion), according to PERILS.
Insurance
31 March 2017   The Insurance Council of Australia (ICA) said that Tropical Cyclone Debbie triggered 7,500 claims and that insurance losses could reach into the hundreds of millions of dollars as householders and businesses return to their properties and lodge claims.