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Perils pegs insured eastern Australia flood losses at $4.3 billion

Posted On: Mar. 14, 2023 10:01 AM CST

Swiss catastrophe data provider Perils AG has pegged its fourth and final insured industry loss estimates for the eastern Australia floods that occurred over February and March in 2022 at $6.53 billion Australia ($4.34 billion), Asia Insurance Review reported. Perils also noted that property losses accounted for 90% of the claims. The floods generated the largest loss on record for the local insurance industry.