Australian Floods

Friday, January 21, 2011 @ 11:01 AM
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News Agency Bloomberg are reporting today that the projected rebuilding cost to put right the damage caused by the recent and ongoing floods could be as much as A$20 billion (roughly 1.5% of the countries GDP)

The Insurance Industry will be bearing a major share of the burden and given that UK Insurers operate on a global basis many will be affected.  Time will tell as to whether the impact manifests itself in higher premiums for all.

To read the full article go to

http://www.bloomberg.com/news/2011-01-19/australian-floods-prompt-evacuation-of-towns-in-victoria-as-levies-weaken.html

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