Tropical Cyclone Debbie insured losses reach A$660m

Insured losses across Queensland and New South Wales from Tropical Cyclone Debbie have reached A$660 million ($496 million) from 41,105 claims as of April 11, according to the Insurance Council of Australia.

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 previously 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.

Today’s top stories

AmTrust boosts senior financial leadership amid class action lawsuit

Commoditisation challenges reinsurance profitability

Profits and ROE plunge at world's biggest reinsurers in 2016

MS Amlin Syndicate 2001 makes a loss in 2016 as claims ratio jumps

UK car insurance premiums see 16 percent annual rise

Did you enjoy reading this story?  Sign up to our free daily newsletters and get stories like this sent straight to your inbox.