Insurance Council of Australia: 3 Year Weather Bill Reaches $12.3B
New data released by the
Every eastern state has been significantly impacted by flooding over the last three years, while
Since
The cost of this year's February-March floods has now reached more than
The February-March floods have seen more than 237,000 claims lodged, and insurers have now paid out
The July severe weather that inundated parts of western
The mid-October storms and floods that cut across
The flooding impacting the Central West of
Quote attributable to ICA CEO
Each one of the 788,000 wild and wet weather claims lodged with insurers over the past three years represents a significant disruption to an Australian homeowner, tenant, landlord, business owner, primary producer or motor vehicle owner.
The fact that one in 25 of us has had to lodge an insurance claim because of this extreme weather is very sobering.
We must not ignore what this data is telling us to do - invest in community-level mitigation, home retrofits, home buybacks in the most extreme cases, and better early warning systems.
We also need to stop building homes and in harms' way and make new homes stronger.
While these figures show the massive impact of extreme weather events, they also show how hundreds of thousands of Australians have been helped back on their feet by their insurer.
Given the scale of this year's flooding in northern
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Original text here: https://insurancecouncil.com.au/resource/three-year-weather-bill-reaches-12-3-billion/
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