Queensland Flood Claims Hit $2 Billion, Insurance Council Says

Claims for damages related to flooding in Queensland state have hit A$2 billion ($2 billion) after a jump in notifications from mining and industrial companies affected by the natural disaster, the Insurance Council of Australia said.

As of today, insurers have received 43,755 claims, of which 77 percent have had initial assessments, the council said in a statement on its website today. Policy holders have so far received A$201 million.

Flooding in Victoria state has generated 5,590 claims for an estimated A$67 million, the statement said.

To contact the reporter on this story: Jacob Greber in Sydney at jgreber@bloomberg.net

To contact the editor responsible for this story: Philip Lagerkranser at lagerkranser@bloomberg.net

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