Insured Loss Estimates for Cyclone Debbie Rise to US$1.1B: PERILS

The estimate for the property insurance market’s loss for tropical cyclone Debbie has risen to A$1.4 billion (US$1.1 billion) from an initial estimate of A$1.12 billion, according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data.

Cyclone Debbie affected the Australian states of Queensland and New South Wales from March 28, 2017 until early April.

In line with the PERILS loss reporting schedule, its third loss estimate for Debbie will be released on Sept. 28, 2017, six months after the event. The third and any following loss estimates will be provided in full resolution, i.e., at four-digit postcode level and by the property sub-lines residential and commercial.

Subscribers to the PERILS Industry Exposure Loss Database can access more information about Cyclone Debbie under “Industry Loss.”

Source: PERILS

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Article source: http://www.insurancejournal.com/news/international/2017/06/28/456008.htm