ICA Posts Revised Claims Figures for Queensland, Victoria Floods

The Insurance Council of Australia has posted updated claims figures for the foods that devastated large portions of the States of Queensland and Victoria.

Revised figures as of the 11th of February 2011 for the Queensland floods were listed as follows:
• 43 755 claims received
• A$2.0 billion [US$1.997 billion] estimated reserved claims value
• Increase is due to large commercial/industrial and mining claims now being reported
• Insurers have completed 77 percent of initial claims assessment
• A$201 million [US$ 200.7 million]has been paid to policyholders already

Revised claim figures as of the 11th of February for the floods in Victoria were given as follows:
• 5 590 claims received
• A$67 million [US$66.9 million] estimated reserved claims value
• Insurers have completed 65 percent of initial claims assessment

Source: Insurance Council of Australia