The insurance bill for the NSW floods is expected to hit almost $100 million, says the Insurance Council of Australia, which has already fielded more than 8400 claims.
The flood disaster has been designated a “significant event” for insurance purposes by the peak body, which says more than 80 per cent of the claims are for property damage, 15 per cent for submerged cars, and about 2 per cent relate to commercial equipment and businesses.
Loading...
Samantha Hutchinson is the AFR's National Reporter. Most recently, she was CBD columnist for The Sydney Morning Herald and The Age. Before that, she covered Victorian and NSW politics and business for The Australian, the AFR and BRW Magazine. Connect with Samantha on Twitter. Email Samantha at samantha.hutchinson@afr.com.au
