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International

Insured losses from East Coast floods reach $3.6 billion

August 01, 2022 Reprints

The Insurance Council of Australia said that insured losses from floods that affected the east coast of Australia in February and March have surpassed $5.1 billion Australian ($3.6 billion), making it the second-costliest weather event in Australian insurance history, Smart Company reported. The average amount of commercial insurance claims is AUD71,000.

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Insured losses from East Coast floods reach $3.6 billion

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