Search

PERILS reveals second loss estimate for Queensland floods

An updated estimate will be released in August.



The damage bill due to the catastrophic floods that inundated northern Queensland, and in particular the city of Townsville, between January 26 and February 10 has reached $1,041 million, according to PERILS’s second loss estimate.

The figure, which is based on loss data collected from affected insurers, covers the property line of business only. The independent Zurich-based organisation initially estimated the property loss for the Townsville flood event to be at $957 million.

PERILS will release an updated estimate of the market loss for the Townsville flood on August 12.


Source: Insurance Business Australia

SME Insurance Group
ABN 31 091 099 811
AR No 1268012
an Authorised Representative of PSC Connect Pty Ltd
ABN 23 141 574 914
AFSL 344648
  • White LinkedIn Icon
  • White Facebook Icon

© 2019 by SME Insurance Group.