Insured losses rise steeply for cyclone

The Insurance Council of Australia said that more than 41,000 claims have been reported for cyclone Debbie across Queensland and northern New South Wales as of April 11, with insurance and reinsurance losses estimated to total $660 million Australia ($500 million), Artemis.bm reported. As claims continue to be filed, the figure is expected to rise further to AUD 1 billion or higher.

Read more.