In the aftermath of ex-tropical cyclone Jasper, which made landfall on December 13, far north Queensland, Australia, is grappling with unprecedented flooding that has led to emergency rescues, power outages, and substantial material losses.
According to Aon’s latest weekly cat report released on December 22, the situation, exacerbated by record-breaking torrential rainfall, has prompted warnings of financial losses potentially reaching into the hundreds of millions of AUD/USD.
Cyclone Jasper initially hit north of Cairns as a tropical storm, later weakening to below tropical cyclone intensity over the Cape York Peninsula.
The remnants of the cyclone, coupled with a developing surface trough, resulted in intense rainfall over already saturated river catchments.
The Australian Bureau of Meteorology reported staggering 7-day rainfall totals, with some areas recording over 2,000 mm (78.7 inches) of rain. The city of Cairns itself experienced at least 650 mm (25.6 inches) of rainfall during this event.
The Queensland government issued warnings for coastal regions from Wujal Wujal to Halifax, leading to the rescue of around 300 people in Cairns.
Power outages affected approximately 14,000 people, with the local airport in Cairns submerged, resulting in canceled flights on December 16-17. Local officials are expressing concern about potential infrastructure damage leading to a loss of access to drinking water.
As assessments continue in the affected area, the economic and insured losses caused by Cyclone Jasper and the subsequent flooding are expected to be higher than initially estimated.
Although the impacted region was sparsely populated, significant damage to properties, vehicles, infrastructure, and agriculture has been reported.
Responding to damage caused by ex-tropical cyclone Jasper, the Insurance Council of Australia (ICA) has declared the event an ‘Insurance Catastrophe’, noting that 3,800 claims have already been lodged across areas stretching from Cape York Peninsula to Mackay.
