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Tropical Cyclone Debbie losses approach $1 billion

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PERILS A.G. has issued a preliminary estimate of insured property losses for Tropical Cyclone Debbie at 1.116 billion Australian dollars ($821.3 million). 

The storm affected the Australian states of Queensland and New South Wales in late March and early April, causing significant wind and flood damage across Southeast Queensland and Northeast South Wales, according to a press release issued Tuesday by the Zurich, Switzerland-based catastrophe loss data company. Storm surge was moderate, but rainfall was exceptional and led to surface water and river flooding that affected many communities, according to the company. 

An updated loss estimate for Debbie will be published on June 28.