Insured losses from Townsville flood rise to $850 million
Posted On: Aug. 5, 2019 7:54 AM CST
The Insurance Council of Australia said that the Townsville area floods in February caused insurance and reinsurance losses of $850 million, Artemis reports. Insurers have closed 60% of the claims, and paid more than $521 million in repairs, rebuilding works, replacement items, services, business interruption, emergency accommodation and settlements.