Insurance Australia Group Limited (IAG), who’s suite of brands includes NRMA, Swann Insurance and CGU Insurance, stated that as at 25 March 2010, it had received in excess of 13,500 insurance claims in relation to the severe weather which struck Perth on 22 March.
“As a consequence,” an Insurance Australia Group Limited statement read “the Group expects to claim on its catastrophe reinsurance cover, capping the total pre-tax cost of this event at $75 million.”
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