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Debbie adds to global insurance bill for March

Destruction caused by Cyclone Debbie and other severe weather events last month has left insurers with a global bill of more than $US2 billion ($2.67 billion), according to Impact Forecasting’s latest catastrophe report.

Australia is still counting the cost of Debbie. The Insurance Council of Australia says almost 47,000 claims have poured in, with insured losses of at least $413 million.

“These totals were expected to rise,” Impact says in its report on last month. “The overall economic cost will be even higher.”

Severe weather including tornadoes, hail and high wind in the US plains, midwest and southeast regions resulted in economic losses of $US1.7 billion ($2.27 billion) and insurance payouts of $US1.2 billion ($1.6 billion) last month.

Wildfires that hit parts of Oklahoma, Texas, Kansas and Colorado in the first week of last month caused economic losses of more than $US100 million ($133.28 million).

In Peru and Columbia catastrophic flooding caused economic losses of at least $US3.1 billion ($4.13 billion), Aon Benfield subsidiary Impact says.

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