DECEMBER HAILSTORM IS COSTLIEST AUSTRALIAN CATASTROPHE OF 2018

A December hailstorm in New South Wales has resulted in the costliest catastrophe loss for Australian insurers in 2018. The Insurance Council of Australia said more than 25,000 claims were received following a storm which impacted Sydney and the Central Coast, with insured losses of at least A$125m. The event was the fifth to receive a catastrophe declaration from ICA during last year. In March 2018, bushfires in NSW and Victoria resulted in A$82.5m in insured losses, while Cyclone Marcus caused A$62m in claims during the same month. March also saw A$16.8m result from floods in Queensland. In May, storm and flood damage around Hobart resulted in A$99.6m in insured losses.