Australian catastrophes cost insurers $4.4 bn in 2011
December 21st, 2011 - 2:22 pm ICT by IANSSydney, Dec 21 (IANS) The cost of catastrophes in 2011 in Australia has reached 4.35 billion AU dollars ($4.4 billion), the Insurance Council of Australia (ICA) said Wednesday.
ICA chief executive Rob Whelan said Australia had been struck by several of the biggest catastrophes of recent times, including Queensland floods, Cyclone Yasi, Perth bushfires, Victorian floods and severe storms and West Australian Margaret river bushfires.
He said insurers had received nearly 190,000 claims with a total reserved value of 4.35 billion AU dollars, reported Xinhua.
Releasing the annual figures Wednesday, Whelan urged federal and state governments to do more to safeguard communities.
“Insurance can’t stop these catastrophes. It can only help once it’s over,” he said in a statement.
“It’s the role of governments to put in place the measures that make our communities safer places in which to live, especially those with a known exposure to risk from events such as flooding, cyclones and bushfires.”
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- Oz-England ODI to be Queensland floods fundraiser - Jan 05, 2011
- Insurance claims from floods in Australia soar - Feb 11, 2011
- Australia Waiting For Cyclone Yasi - Feb 02, 2011
- Cyclone Yasi Strikes Australia's Queensland, No Casualties Reported - Feb 03, 2011
- Cyclone Yasi hits Queensland (Lead) - Feb 03, 2011
- Yasi Victims Assured By Prime Minister Of Australia - Feb 03, 2011
- Cyclone Yasi to hit Queensland town - Feb 02, 2011
- Queensland braces for Cyclone Yasi - Feb 02, 2011
- Cyclone Yasi worse than any in Queensland's recent history: Premier Bligh - Feb 02, 2011
- Brisbane ODI win would be priceless for Queensland flood victims: Watson - Jan 29, 2011
- Victorian towns facing one-in-200-year flood threat - Jan 17, 2011
- Cyclone Yasi's Oz ground zero looks like Vietnam in 'Apocalypse Now': Eyewitness - Feb 03, 2011
- Oz publican promises to shout Prince William a beer during visit - Mar 09, 2011
- Australia's current account deficit widens - Mar 06, 2012
Tags: bn, catastrophes, chief executive, cyclone, cyclones, ica, insurance, insurance council of australia, margaret river, measures, perth, queensland floods, rob whelan, severe storms, state governments, sydney, xinhua, yasi