ICA pegs flood losses at A$254mn and adds Queensland to catastrophe

24 March 2021

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sign signal australia flood disaster rain road street tropics river water — Photo: Alamy

The floods engulfing parts of New South Wales and Queensland have so far resulted in claims of around A$254.2mn ($195.1mn), according to an estimate from the Insurance Council of Australia (ICA).

The ICA had previously declared an insurance catastrophe in New South Wales and has now added south east Queensland to the catastrophe after 15% of the 17,000 claims so far lodged originated in the state.

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ICA pegs flood losses at A$254mn and adds Queensland to catastrophe

The floods engulfing parts of New South Wales and Queensland have so far resulted in claims of around A$254.2mn ($195.1mn), according to an estimate from the Insurance Council of Australia (ICA).

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ICA pegs flood losses at A$254mn and adds Queensland to catastrophe

The floods engulfing parts of New South Wales and Queensland have so far resulted in claims of around A$254.2mn ($195.1mn), according to an estimate from the Insurance Council of Australia (ICA).

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Uncover exclusive insights tailored for insurance leaders

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Convex in ‘evolution not revolution’ phase: Brand

Londonitis: Beazley and Hiscox should look hard at their London listings

The Week in 90 Seconds: Willis Re-boot; Q1 results; Broker start-ups

Talanx reports prelim net income of EUR572mn in Q1

Behind the Headlines: Israel escalation and Convex's Paul Brand on building and running a $4bn (re)insurer

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Rates a ‘non factor’ in WTW risk and broking growth: Hess