Cyclone Debbie insured losses reach A$306m so far: ICA
The Insurance Council of Australia (ICA) has estimated the insured losses from Tropical Cyclone Debbie at A$306 million (approximately $231.3 million) as of April 4, 9:00 AM local time.
According to a statement by the council, insurance companies have received 28,000 claims from distraught policyholders across Queensland and New South Wales so far.
Cyclone Debbie made landfall on March 28 in Queensland, Australia as a Category 4 severe tropical cyclone, and was declared a 'catastrophe' by ICA.
The ICA said earlier that a level of catastrophe similar to the one caused by Cyclone Debbie has not been seen since ex-Tropical Cyclone Oswald in 2014, when storms and flooding affected large parts of Queensland and NSW and caused insurance losses of almost A$1.2 billion.
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