Zurich - 07 May 2021
AUD 1,055m - PERILS releases initial industry loss estimate for the March 2021 New South Wales and Queensland Floods
PERILS has today disclosed its initial industry loss estimate for the New South Wales and Queensland floods, which occurred primarily during the period of 18 to 24 March 2021.
The initial figure of the insured market loss, based on loss data collected from the majority of the Australian insurance market, is AUD 1,055 million. In line with the PERILS event definition, the PERILS loss number covers the property and motor hull lines of business.