CYCLONE DEBBIE INSURED BILL RISES TO A$224M

Cyclone Debbie-related insured losses stand at A$224m this morning, the Insurance Council of Australia has reported. ICA said insurers have currently received 19,600 claims related to the storm, which made landfall in Queensland last week with equivalent strength to a category 3 hurricane. The damage bill is expected to continue rising in the coming days. The damage total includes losses in Queensland and in New South Wales, where flooding has been reported associated with rainfall from the storm’s remnants. Since 2006 ICA data shows insurers have paid more than A$3.6bn ($2.74bn) in cyclone-related claims in Queensland, and more than A$3.2bn due to flood claims. ICA chief executive Rob Whelan last week said the total Debbie insured bill will likely be in the hunderds of millions of dollars.