Insurance Council News
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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.
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Floodwaters in eastern Australia retreated and cleanup crews moved in after ex-tropical cyclone Oswald forced thousands of people to flee their homes and caused millions of dollars of damage.
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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.
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Tornadoes in Australia’s Queensland state felled trees and power lines as ex-tropical cyclone Oswald dumped heavy rain and moved toward New South Wales bringing damaging winds and possible flooding.
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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.
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Storms that pummeled a Dallas-area highway and residences with hail last week may lead to $2 billion in home and auto claims, an insurance-industry trade group said.
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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.
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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.
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Life insurers are secretly profiting from death benefits owed to the survivors of service members and other Americans.
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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.
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