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Insured losses from Australia storm reach $822.5M

Michael Bradford

April 19, 2010 Reprints

Catastrophes P/C Insurers Australia & New Zealand More + Less -

PERTH, Australia—Storms that battered Perth, Australia, last month resulted in insured claims of at least $889 million Australian ($822.5 million), according to the Insurance Council of Australia.

As of April 14, insurers had received about 120,500 claims related to the storms that brought heavy rain and hail to the western Australian city, the council said.

In a statement, the council said about 38% of all property damage assessments had been completed and more than 55% of vehicle damage assessments were done as of late last week.

“Realistically, full recovery from this catastrophe may take up to 18 to 24 months,” the council said in the statement.

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Insured losses from Australia storm reach $822.5M

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