Yasi, the most devastating cyclone of the century

Cyclone Yasi, which struck the coast in early February, is poised to be the most devastating of the last hundred years in Australia. Economic losses are estimated between 2 and 5 billion USD. Eqecat, a company designing catastrophe risks models, is expecting an insured loss of over 540 million USD.

Its rival AIR Worldwide forecasts claims will range between 350 million and 1.5 billion USD for insurers. The first Australian insurer, QBE, has announced that Yasi could cost it 100 million AUD (101 million USD), that is, as much as the January floods. Its rival IAG has reported losses up to125 million AUD (126 million USD) against 110 to 130 million AUD (111 to 131 million USD) for the January floods.