Catastrophe data specialist Perils has revised its insured loss estimate for Cyclone Alfred to $1.92 billion following a third assessment.

It initially issued an estimate of $2.55 billion, before lowering it to $2.25 billion in June.

Perils Asia-Pacific head Darryl Pidcock says the latest revision draws on data from insurance providers.

The report says about 70% of industry losses were in personal lines, with about 26% in commercial lines and 4% motor.

Detailed mapping shows costs were highest along the coast from Brisbane to Byron Bay, along with heavy losses in NSW’s Coffs Harbour area.

“Even though Alfred was a cyclone event, losses were primarily driven by intense and prolonged rainfall rather than by strong winds,” Mr Pidcock said.

“This report provides a wealth of new information, enabling an improved understanding of vulnerabilities in southern Queensland and northeastern NSW, which are rarely impacted by tropical cyclones.

“Losses further south in NSW were primarily due to flooding as post-Alfred rainfall lingered for some days following landfall.”

The report analyses losses from February 28 to March 12. Perils will release a fourth and final report on March 12 next year.