Australia: Insurance claims from Cyclone Ita damage continue to rise

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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.

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