Perils pegs insured eastern Australia flood losses at $4.3 billion
Posted On: Mar. 14, 2023 10:01 AM CSTSwiss 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.