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International

Australia's IAG receives 700 damage claims from cyclone Marcia

February 23, 2015 Reprints

Insurance Australia Group Ltd. has received 700 claims related to damage from the recent Cyclone Marcia that crossed the country's Queensland state coast, Business Insider Australia reports.

About 90% of claims are concerning property damage in New South Wales and Queensland states.

The insurer's current maximum exposure is $250 million Australian ($196 million).

The Insurance Council of Australia said that insurers have received 3,200 claims so far.

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Australia's IAG receives 700 damage claims from cyclone Marcia

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