With the February-March floods in Southeast QLD and NSW now classed as the most expensive natural disaster in the nation's history at a cost of $5.65 billion, data released today shows the total insurance bill from disastrous wet weather has topped $12.3 billion since the start of 2020.
Every eastern state has been significantly impacted by flooding over the last three years, while South Australia and Western Australia have been hit by storms and cyclone activity over that period.
The Insurance Council of Australia (ICA) reports 788,000 claims related to floods and storms declared Insurance Catastrophes or Significant Events have been received by insurers since January 2020, meaning one in 25 adult Australians has made such a claim in that period.
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