Suncorp’s nat cat claims surpass $360 million already

The cyclone season in Australia is yet to start officially on Nov. 1 but insurer Suncorp Group Ltd. is already counting up to $492 million Australian ($362 million) in claims from storms that have hit the country so far, The New Daily reported citing InQueensland. The damage claims are mostly related to storms in Queensland and New South Wales. Suncorp has earmarked almost AUD1 billion for payouts this financial year along with its reinsurance program.