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Member, Beacon International Group, Ltd.
The Insurance Council of Australia has declared the recent storm in the country as the fifth catastrophe event for 2015, reported Artemis.bm.
Insurers have received about 7,500 claims and the insured loss has been estimated at $26 million Australian ($20.4 million), ICA said.
Catastrophe losses have been increasing in the country due to a bout of recent storms that hit the country in 2015.
Insured losses from catastrophe events in 2015 have been estimated at $934.6 million Australian ($733.5 million) so far.