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Cyclone Xaver, which heralded the first week of December by sweeping devastating wind and rain across Northern Europe, may cost the insurance industry between $962 million and $1.9 billion in losses, says AIR Worldwide.

Xaver hit Scotland on Dec. 5 with hurricane-strength winds and moved across the North Sea to the Netherlands, Denmark and Germany with torrential rain and storm surge that caused travel delays, power outages and property damage over two days. It left nine people dead.

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