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Insurers settle more than half of over 230,000 flood claims

Posted On: Oct. 3, 2022 9:37 AM CST

Data from the Insurance Council of Australia shows that insurers have settled more than half of the estimated $2.8 billion Australian ($1.8 billion) worth of claims related to the February and March floods in Australia, Reinsurance News reported. The floods triggered around 234,000 claims worth AUD5.45 billion in insured losses.