News Non-Life11 Mar 2019

Nat CATS in Feb cause widespread damage

The month of February this year saw significant damages incurred due to various natural disaster events occurring worldwide, afflicting insurers and economies. Of note, over 22,204 claims were filed for damages caused by widespread flooding in Australia's Northern Queensland region and payouts exceeded A$893m ($635m), according to the Insurance Council of Australia (ICA). The Australian economy's total economic losses, including damage to property, infrastructure, and agriculture, is expected to hit at least A$1.7bn.

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