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Australian hail industry losses jump another 26% to A$514m

Insurance and perhaps reinsurance industry losses from the recent severe hail storm outbreaks across southeastern Australia have risen again, jumping another 26% to hit A$514 million (around US $355m) in the last day.The Insurance Council of Australia (ICA) has warned to expect this total to continue to rise over the read the full article →

Australian hailstorm losses rise 27% to A$407m as claims pour in

The insurance and perhaps reinsurance market loss from the recent severe convective storms and large hail events in Australia is estimated to have risen by 27% in just one day, reaching A$407 million (around US $280m) as claims start pouring in.This outbreak of severe convective weather, thunderstorms, large hail and read the full article →

Australian hailstorm losses already hit A$320m, set to rise further

Yesterday we covered the outbreak of severe convective weather, thunderstorms, large hail and flooding across a swathe of southeast Australia and already the industry insured losses from these storms has been estimated at A$320 million.The Insurance Council of Australia (ICA) responded quickly with data collection from these storms having declared read the full article →

Severe storms & large hail hammer Australian cities and suburbs

While the ongoing bushfire crisis in Australia has dropped out of the headlines a little in recent days, thanks to rainfall and cooler temperatures, parts of the country have faced fresh catastrophe events as significant severe convective storms and very large hail struck a number of major urban areas over read the full article →

Property loss from Dec 2018 Sydney hailstorm up 4% to A$798m: PERILS

The loss impact from a severe hailstorm that struck the Sydney and surrounding area of Australia in December 2018 is now estimated 4% higher at an insurance and reinsurance market loss of A$798 million (around US $550m) by PERILS AG.PERILS only tracks insured property losses in Australia, hence its final read the full article →

Severe hail storm impacts Brisbane, Australia region

A severe hail storm struck the Brisbane and Sunshine Coast region of South Queensland, Australia yesterday, resulting in widespread damage, with thousands of insurance claims already filed.Australian severe storms and hail have driven some of the largest catastrophe losses to hit Australia in recent years, as convective weather on the read the full article →

Parametric hail insurance with sensors launched by Understory & MSI GuaranteedWeather

An innovative new sensor derived and triggered parametric insurance policy designed to cover auto dealer lots against hail storm damage has been launched by insurtech Understory, backed by MSI GuaranteedWeather and reinsurance capital.Understory has developed and manufactured its own weather and climate sensors, which it calls the Dot sensor, to read the full article →

Sydney hailstorm property insured loss rises 21% to A$766m: PERILS

The property loss from the December 2018 hail storm that struck the Sydney and surrounding area of Australia has been increased by 21% to a new estimated insurance and reinsurance market loss of A$766 million (US$530m) by PERILS AG.It's worth reminding you that PERILS only tracks insured property losses in read the full article →

Sydney hail & Townsville flood losses rise, as Australia’s cat bill hits A$2.42bn

Industry losses have continued to rise from the December hail storm that struck the Sydney and surrounding area of Australia, with the latest tally of an insurance and reinsurance bill for the event rising to A$1.271 billion (US $915m).The hail storm struck the Sydney, Central Coast and South East Queensland read the full article →

Sydney hail loss rises. Australia’s insured catastrophe bill hits A$2.2bn

Increasing losses from the December hail storm in Sydney and the surrounding area of Australia has hiked the overall insurance and reinsurance bill for summer catastrophes that have been designated in the country to A$2.2 billion (US $1.57bn).At the last update back in January, the Insurance Council of Australia (ICA) read the full article →