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Haiyan losses forecast at $6.4 billion

Economic losses from Super Typhoon Haiyan in the Philippines last month are estimated at $US5.8 billion ($6.41 billion), with insured losses running to hundreds of millions of dollars, Aon Benfield says.

The storm on November 8 killed at least 5719 people and injured 26,233, according to subsidiary Impact Forecasting’s Global Catastrophe Recap for last month.

About 1800 people have been declared missing and 1.2 million homes were damaged or destroyed.

“Remarkably, Haiyan became the third Category 5 storm to make landfall in the Philippines since 2010,” Impact Forecasting Senior Scientist and Meteorologist Steve Bowen said.

“This is in stark contrast to the US, which has not endured a Category 3+ hurricane landfall since October 2005.”

In the US midwest 10 people died and 300 were injured as 106 tornado touchdowns were registered, the third-highest November outbreak since 1950.

Total economic losses are expected to top $US1 billion ($1.1 billion), with insurance losses in the hundreds of millions, the report says.

In Australia, severe weather on November 16 generated hail and tornadoes in Queensland and NSW, with insured losses estimated in the millions.

A separate patch of severe weather hit the same states between November 18 and 23. Hail, tornadoes and wind damaged homes and vehicles, with total economic losses estimated in the millions.