Australia is facing increased risks of extreme weather events such as heatwaves, wild fires and drought spurred by climate change, according to a report released today by the nation’s Climate Commission.
Claims for damages related to flooding in Queensland state have hit A$2 billion ($2 billion) after a jump in notifications from mining and industrial companies affected by the natural disaster, the Insurance Council of Australia said.
Heavy rain and destructive winds are lashing the eastern coast of Australia after floods caused by ex-tropical cyclone Oswald left four people dead in Queensland state, inundated thousands of homes and disrupted coal output.
Suncorp Group Ltd. fell the most in five months in Sydney trading on concerns claims from floods caused by ex-tropical cyclone Oswald that lashed Queensland and New South Wales states would reduce earnings.
The package arrived at Cindy Lohman’s home in Great Mills, Maryland, just two weeks after she learned that her son, Ryan, a 24-year-old Army sergeant, had been killed by a bomb in Afghanistan. It was a thick, 9-inch-by- 12-inch envelope from Prudential Financial Inc ., which handles life insurance for the Department of Veterans Affairs.
Australia’s island state of Tasmania is struggling to contain wildfires that destroyed 100 properties and forced more than 3,000 people from their homes as areas of the mainland brace for catastrophic conditions due tomorrow.