Magazine

Jun 2019

Read the latest edition of AIR and MEIR as an Interactive e-book

Australia: Cyclone Marcia bill busts A$400 mln

Source: Asia Insurance Review | Apr 2015

Claims from Cyclone Marcia in Queensland have risen above A$400 million (US$305 million). An influx of claims for losses to businesses following Cyclone Marcia, which made landfall on 20 February in Queensland, has increased the reserved value of insurance losses to A$403.6m from 29,565 claims. 
 
The Insurance Council of Australia (ICA) said 7% of the latest claim numbers were for commercial insurance, but they also represented 26% of the dollar value of claims.
 
Suncorp has absorbed a lion’s share of the damage, up to $150 million worth and 10,000 claims. Customer-owned RACQ Insurance, another big insurer in the region, has recorded 3,978 claims, for homes and cars. No dollar figure is available yet.
 
| Print | Share

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.

 

Recent Comments

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.