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Insurers have already paid $268 million to flood victims

  • by The Quotesonline Team

The Insurance Council of Australia has submitted revised insurance claim figures for the Queensland and Victoria floods.

As at 11 February 2011 for the Queensland floods:
43 755 claims have been received
$2.0 billion estimated reserved claims value
Increase is due to large commercial/industrial and mining claims now being reported
Insurers have completed 77% of initial claims assessment
$201 million has been paid to policyholders already

Revised claim figures as at 11 February 2011 for the VIC floods are:
5 590 claims received
$67 million estimated reserved claims value
Insurers have completed 65% of initial claims assessment


Please note Quotesonline Insurance News is an information service provided by third parties Insure 247 Australia doesn’t warrants the accuracy of any information contained there in, readers should make their own enquiry’s before relying on information in the stories Terms of Service

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