Zurich - 13 Sep 2022
PERILS has today disclosed its third industry loss estimate for the Eastern Australia floods, which affected the states of Queensland and New South Wales during the period of 20 February to 11 March 2022.
In its third loss report, provided in the form of a detailed industry loss footprint, PERILS estimates that the event has cost the insurance industry a total of AUD 6,292 million. This figure compares to PERILS’ previous loss estimates of AUD 4,895m which was released on 9 June (3 months after the event), and AUD 3,991m which was release on 19 April (six weeks after the event). PERILS’ industry loss figures are based on detailed loss data collected from affected insurers.