Australian catastrophe & weather losses pass $261m year-to-date

Natural catastrophe and severe weather losses in Australia that fell to the insurance and reinsurance industry in 2018 so far now total roughly AU $261 million, after the Hobart storms and floods industry loss was raised to $100 million by the Insurance Council of Australia.

It’s still under 3½ months since devastating floods struck parts of Hobart and Kingston, after severe storms struck the area, but already insurers are said to have closed more than 50% of household claims, the Insurance Council said.

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