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Floods push summer catastrophe bill to $3.5 billion

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Losses from floods and storms in Queensland and NSW earlier this year have risen dramatically to more than $466 million from 56,418 claims – pushing the total summer catastrophe bill towards $3.5 billion.

The heavy rainfall that swept in early last month was credited with putting out some of the worst bushfires in the region, but the latest figures show that it caused significant damage of its own.

Losses from the summer bushfires have also risen slightly to $2 billion from 27,132 claims, and losses from January’s hailstorms across Victoria, ACT, NSW and Queensland remain at $805 million from 87,500 claims.

Earlier hailstorms in southeast Queensland in November caused losses of $166 million, while claims from smaller fires in Queensland and NSW in September and October had combined losses of $56 million.