Cyclone Debbie costs nearing $1 billion

The cost of damage from tropical cyclone Debbie is approaching the $1 billion mark, according to the Insurance Council of Australia.

The damage bill from Cyclone Debbie in March has almost reached $1 billion. (AAP)

Insured losses from tropical cyclone Debbie have almost reached $1 billion.

More than 58,000 claims with a value of $988 million have been received by insurers as of June 28, stretching from north Queensland to northern NSW, the Insurance Council of Australian said in a statement.

More than 80 per cent of claims were for damage to homes or home contents.