Townsville floods' insurance tab rises to $740 million
Posted On: Mar. 21, 2019 5:28 AM CST
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.