Zurich - 14 Feb 2024
PERILS has today disclosed its initial industry loss estimate for the Australia Christmas Storms which affected the East Coast of Australia during the period of 23 to 29 December 2023.
PERILS’ initial estimate of the insured market loss, based on loss data collected from the majority of the Australian insurance market, is AUD 1,395 million. In line with the PERILS coverage definition for Australia, this loss number covers the property and motor lines of business.