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Insured losses from Queensland flood rise: Perils

Townsville, Queensland, Australia, flood

Perils AG has increased its estimate of property insured losses for a flood event in northern Queensland, Australia, to AU$1.04 billion ($726.8 million). 

The insured loss estimate for the flooding, much of which occurred in the city of Townsville between Jan. 26 and Feb. 10, was raised from an initial estimate of AU$957 million issued by Perils on March 15, the Zurich-based catastrophe loss data company said Friday in a statement.

An updated estimate of the market loss will be made available on Aug. 12.



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