Insured loss from 2022 floods raised to $3.9 billion

The Insurance Council of Australia has increased its industry loss estimates for the severe floods that occurred in eastern regions of the country in February and March 2022 to 5.81 billion Australian ($3.9 billion), up from the AUD5.65 billion estimated in November 2022, Reinsurance News reported. The most recent estimate is based on more than 240,000 claims lodged with insurers.