Insured losses from East Coast floods reach $3.6 billion
Posted On: Aug. 1, 2022 9:54 AM CSTThe Insurance Council of Australia said that insured losses from floods that affected the east coast of Australia in February and March have surpassed $5.1 billion Australian ($3.6 billion), making it the second-costliest weather event in Australian insurance history, Smart Company reported. The average amount of commercial insurance claims is AUD71,000.