Oz spring floods hit $3.6bn losses as delays hit claims resolution
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Oz spring floods hit $3.6bn losses as delays hit claims resolution

Liz Bury
29 July 2022
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Flood waters, Northern New South Wales, Australia

Insured losses have hit A$5.1bn ($3.6bn) relating to the February-March flooding in south-east Queensland and other parts of New South Wales, up 6% on June, the Insurance Council of Australia (ICA) has said.

The ICA noted delays in resolving claims in some cases, due to constraints on labour and materials.

“Insurers continue to employ more people and contractors to resolve claims, however delays are being experienced because of a shortage of experts needed...

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