Debbie loss passes $1.7 billion in pioneering measurement

Swiss catastrophe data company Perils has upgraded its final loss estimate for Cyclone Debbie to $1.74 billion. Its previous estimate for total losses was $1.66 billion, issued six months ago. Debbie hit Queensland and NSW from March 28 into early April last year. Perils says this is the first time a market-loss footprint for an Australian catastrophe has been made available at a postcode level, and by property line of business. The data is divided into cyclone and flood losses, allowing insurers to derive damage-degree functions as a percentage of total sums insured in both categories. #phoenix_risk_services 

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