Zurich - 12 Oct 2021
AUD 394m - PERILS releases detailed industry loss footprint for April 2021 Tropical Cyclone Seroja
PERILS has today disclosed its final industry loss estimate for Tropical Cyclone Seroja, which occurred during the period of 11 to 12 April 2021.
The updated industry loss figure amounts to AUD 394m and is based on detailed loss data collected from the majority of the Australian insurance market. This compares to the figure of AUD 434m issued by PERILS three months after the event. In line with the PERILS event definition, the PERILS loss number covers the property and motor hull lines of business.
Because the industry loss resulting from Tropical Cyclone Seroja remains below the PERILS loss capturing threshold for Australia (AUD 500m), this is the last report for this event and no further surveys will be carried out.