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International

Townsville floods' insurance tab rises to $740 million

March 21, 2019 Reprints

Flooding in Townsville, Australia/ SHUTTERSTOCK.COM

The Insurance Council of Australia predicted that the final insured damage bill for the recent Townsville floods in Queensland would be around $740 million, Artemis.bm reports. Rob Whelan, the council's chief executive, said that the losses have triggered some insurers including Suncorp Group Ltd.'s reinsurance layers.

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Townsville floods' insurance tab rises to $740 million

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