Zurich - 24 Mar 2022
PERILS has today disclosed its fourth and final industry loss estimate for the New South Wales and Queensland floods, which occurred primarily during the period of 18 to 24 March 2021.
The final estimate of the insurance market loss for the floods of March 2021 is AUD 688 million. This compares to the third loss estimate of AUD 751 million which was issued by PERILS on 24 September 2021, six months after the event.
PERILS will report on the flood and storm events which occurred in Australia in February and March 2022 shortly.