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Sydney, Australia flood loss estimate rises to $122m

Insurance claims from the severe flooding that struck the New South Wales region of Australia this month have risen again over the weekend, with another 25% added to take the total to 10,526, but the estimate for insurance and reinsurance market losses remains low at $122 million. Flood waters continued to read the full article →

Australian flood claims rise again, but estimated losses low for now

Insurance claims filed from the severe flooding this July in the New South Wales region of Australia have risen overnight by another 23% to 8,415, but so far the estimate for insurance and reinsurance market losses remains low. Flood waters are now receding in the Sydney area, but further north impacts read the full article →

Australia flooding claims rise to 6,853, as impacts move north

Insurance claims filed from the recent July severe flooding in the New South Wales region of Australia have climbed more than 57% to 6,853 overnight, while the impacts of flooding are now being most felt further north of Sydney. As we reported last Sunday, parts of eastern Australia have been flooding read the full article →

Insurance claims begin to pour in from Australian floods

Already some 4,360 insurance claims have been filed in relation to the latest outbreak of severe flooding in Australia, according to the Insurance Council. As we reported on Sunday, parts of eastern Australia were flooding again after an East coast low brought torrential rains and strong winds to the country. Sydney and read the full article →

‘Significant event’ declared as Sydney, Australia floods worsen

The Insurance Council of Australia (ICA) has now declared a 'significant event' for the developing severe flooding in Sydney and the surrounding region of the country, as now more than 50,000 people are under evacuation orders. As we reported the other day, parts of eastern Australia are flooding again after an read the full article →

Flooding returns to eastern Australia, with Sydney affected

Parts of eastern Australia are flooding again after an East coast low brought torrential rains and strong winds, with parts of Sydney particularly affected, with households evacuated and flood warnings in place. Meteorologists from Australia's Bureau of Meteorology are warning that river levels could continue to rise into the beginning of read the full article →

Industry loss from Australia’s 2022 floods raised 12% to AU $4.8bn

Australia's severe flooding that affected South-East Queensland and Northern New South Wales  in February and March 2022 is now counted as the third most costly extreme weather event ever recorded in the country, as the insurance and reinsurance industry loss estimate has been raised to AU $4.8 billion. The increase in read the full article →

PERILS extends Aus flood loss period, hikes estimate 23% to almost AU $4.9bn

The insurance and reinsurance market industry loss estimate for the flooding that impacted eastern Australia earlier this year is rising considerably, with PERILS AG hiking its estimate by 23% to almost AU $4.9 billion (roughly US $3.5bn) on the back of extending the event loss period. The increase in PERILS estimate read the full article →

Australian 2022 flood industry loss costs rise to AU $4.3bn

Based on an estimate of claims incurred, the Insurance Council of Australia now puts the 2022 severe flooding in the country as the fourth most costly natural disaster event on-record, at AU $4.3 billion. The last figure from the Insurance Council of Australia was for an estimate of insured losses from read the full article →

Australia’s 2022 floods confirmed most costly, inflation a driver

Based on actual claims costs, the Insurance Council of Australia has now updated its estimate for insured losses from Australia’s 2022 severe flooding to AU $3.35 billion. The data shows that the floods and storms that impacted South-East Queensland and coastal New South Wales in February and March 2022 will become read the full article →