Insurers capable of managing claims from recent floods
Posted On: Oct. 19, 2022 10:03 AM CST![Flood risk](https://bicontent.businessinsurance.com/6c3f56c8-d116-41a7-86f1-a51d960af4eb.jpg)
U.S.-based S&P Global Ratings Inc. said that Australia-based insurers will be largely able to manage claims resulting from the ongoing floods in southeast Australia, Asia Insurance Review reported. S&P said that the scale of this recent flooding is unlikely to trigger catastrophe reinsurance cover; however, the event is likely to erode insurers' earnings, slightly.