Cyclone Debbie insured losses rise to A$1.66bn: PERILS

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.

The Zurich-based catastrophe data provider has released its third loss estimate for the cyclone that affected the Australian states of Queensland and New South Wales from 28 March 2017 until the early part of April, and caused significant wind and flood damage across the area.

The revised estimate compares to the second loss estimate of A$1.41 billion, which was issued by PERILS on June 28.

The fourth loss estimate for Debbie will be released on March 28, 2018.

Darryl Pidcock, head of PERILS Asia-Pacific, commented: "The loss footprint has been produced by collecting detailed loss data from insurance companies active in Australia."

"We are very happy to be able to make available loss data for Tropical Cyclone Debbie at such a granular level, particularly given the significance of this event for the Australian insurance market."

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