The Queensland Halloween hailstorms last year caused insurance losses of $1.22 billion, catastrophe data company Perils says in its final estimate for the event.

The figure compares with a third loss estimate of $1.17 billion released by the Zurich-based firm six months afterwards, and comes as eastern states have again faced significant hailstorms in recent weeks.

“Given the severe convective storm activity in October of this year, the industry did not really need a reminder that hail can cause major damage to insured property and cars,” Perils Asia Pacific Head Darryl Pidcock said.

“This highlights the importance of our final industry loss footprint for last year’s Halloween storm to support the industry’s understanding of hail vulnerabilities and the calibration of hail cat models.”

Perils says motor losses contributed 11.9% of the total industry loss for the event, while 88.1% were due to losses in property lines. The estimate is based on data collected from the majority of the Australian insurance market.

The severe thunderstorms hit southeast Queensland, including the surrounding areas of Brisbane, the Gold Coast, the Sunshine Coast and parts of northeastern New South Wales on October 31 last year.

A corridor from Amberley through to the northern suburbs of Logan near Brisbane was hardest hit, with hailstones of up to 14cm in diameter recorded.