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Insurance companies help flood recovery with $3.6 billion in payouts

Insurance firms have paid out over $3.6 billion (£2.4 billion) to help Australians to recover from the Queensland floods and Cyclone Yasi.

Insurance firms in Australia have been helping those in the country to recover from the Queensland floods and Cyclone Yasi by paying out over $3.6 billion (£2.4 billion).

 

 

This is according to the Insurance Council of Australia (ICA), which also revealed that over 118,000 insurance claims were received by policy providers following these national disasters.

 

 

Rob Whelan, chief executive officer of the ICA, said: "Despite the extraordinary circumstances, insurers have been working tirelessly to respond to claims and assist their customers."

 

 

He went on to say that comments blaming the insurance industry for delays in payments are "both ill-informed and unhelpful".

 

 

Mr Whelan said that the sole focus at this time should be to ensure that damaged communities are restored.

 

 

Earlier this month, Master Builders' fundraising and community support arm, the Master Builders Foundation, announced it had donated a $12,000 self-contained water pressure unit to the Mackay Regional Council to help with the natural disaster clean-up.

 

 

Posted by Steve Douglas

- insurance, flood, cyclone, ICA

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