ICA brands Oz floods ‘costliest ever’ at A$3.35bn
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ICA brands Oz floods ‘costliest ever’ at A$3.35bn

Luke Harrison
03 May 2022
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The Insurance Council of Australia (ICA) has badged the spring flooding in South-East Queensland and coastal New South Wales the country’s “costliest flood ever.”

The body estimated the storms and floods will result in A$3.35bn ($2.38bn) of insured losses, a figure based on actual claims costs arising from 197,000 claims.

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