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Australia: Insurers fear damage bill from Brisbane storm may exceed $812 million

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Australian insurers fear that the damage bill from the recent storm in Brisbane city is likely to exceed $1 billion Australian ($812 million), Courier Mail reports.

Insurers have reported around 86,000 claims so far, and more are expected. Suncorp Group Ltd. has received over 29,000 claims, with 19,500 related to automobiles. Claims worth $170 million have been received by Insurance Australia Group Ltd. so far. Insurance Australia Group Ltd. has received 19,000 claims and these are worth $170 million.

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