Australia: Insurance claims from Cyclone Ita damage continue to riseReprints
The Insurance Council of Australia said it had received 510 claims worth $7.6 million Australian ($7.1 million) by Apr.14 2014, just days after Cyclone Ita struck North Queensland, The Sydney Morning Herald reported.
A spokesman said "many more claims will be lodged in coming days."
Brian Holding, owner of the Beach Almond resort at Palm Cove, said premiums have quadrupled in a span of three years.
Mr. Holding added that repeat cyclones were affecting premium rates.