AIR+14 Apr 2022

Australia:Reinsurers expected to review contracts amid floods

| 14 Apr 2022

Reinsurers are expected to bear the brunt of the flood season in Australia. The country had declared a national emergency to deal with the floods and the Insurance Council of Australia put insured losses so far in excess of $A2.5bn ($1.85bn). AM Best expects that figure to rise as the estimate reflects current claims reporting rather than the final bill when more claims are submitted.

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