Australia flood claims double, reinsurance programmes triggered
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Australia flood claims double, reinsurance programmes triggered

Liz Bury
01 March 2022
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Flooding in Southeast Queensland and on the New South Wales coast has driven 31,000 claims, with the rise of 107% on yesterday’s count “much more significant at this point than was seen following last year’s floods in New South Wales and Southeast Queensland”, the Insurance Council of Australia (ICA) said.

Suncorp Group estimated its own net cost for the event at A$75mn ($55mn), with newspaper reports today signalling the carrier had received 10,000 claims.

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