Business Services Industry
Storm claims reach $350m.
Australasian Business Intelligence, June, 2007
Jun 21, 2007 (The Australian Financial Review - ABIX via COMTEX) -- Some 33,000 insurance claims have been lodged since storms hit the central coast of New South Wales (NSW) on 8 June 2007. The Insurance Council of Australia has valued these claims at around $A350 million. NSW Premier, Morris Iemma, estimates the total cost to the state at over $A1 billion. Insurer Suncorp is expecting a resulting drop in profit of $A160 million. Insurance Australia Group is estimating insurance payouts of $A169 million.
Publication Date: 22 June 2007
INSURANCE COUNCIL OF AUSTRALIA LIMITED
INSURANCE AUSTRALIA GROUP LIMITED - ASX IAG
SUNCORP-METWAY LIMITED - ASX SUN
NEW SOUTH WALES. PREMIER'S DEPT
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