Insurers have already paid $268 million to flood victims

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The Insurance Council of Australia has submitted revised insurance claim figures for the Queensland and Victoria floods.

As at 11 February 2011 for the Queensland floods:
43 755 claims have been received
$2.0 billion estimated reserved claims value
Increase is due to large commercial/industrial and mining claims now being reported
Insurers have completed 77% of initial claims assessment
$201 million has been paid to policyholders already

Revised claim figures as at 11 February 2011 for the VIC floods are:
5 590 claims received
$67 million estimated reserved claims value
Insurers have completed 65% of initial claims assessment

 

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