FLOODS – ECONOMIC ASPECTS – QUEENSLAND

Queensland tourism takes estimated $60m hit as floods leave towns isolated

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Original article by Rafqa Touma
The Guardian Australia – Page: Online : 19-Dec-23

Tourism Tropical North Queensland CEO Mark Olsen estimates the region’s tourism sector has been hit with $60 million in cancellations as a result of the floods that have devastated the area and left towns isolated. Olsen said the Barron River had overflowed into the Cairns airport "for the first time in history", and that the airport will not be operating any flights until it has been given the all-clear. Angie Hewitt, who is a director of ecotourism company Daintree Rainforest, says that the toll of weather is "part and parcel of the landscape we live in; Daintree Rainforest has been closed since ferries were cancelled last Tuesday.

CORPORATES
TOURISM TROPICAL NORTH QUEENSLAND, DAINTREE RAINFOREST ENVIRONMENTAL CENTRE PTY LTD

Deluge of flood claims has investors fleeing

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Original article by David Ross
The Australian – Page: 15 : 1-Mar-22

The Insurance Council of Australia has advised that more than 15,000 insurance claims arising from floods in Queensland and New South Wales have been lodged to date. Suncorp had received 5,000 claims by Monday morning, while Insurance Australia Group had received more than 3,200 claims by Sunday evening. Suncorp has also indicated that it may incur losses of up to $75m as a result of the floods; the general insurer recently reported that its costs associated with weather events in the first half of 2021-22 totalled $695m.

CORPORATES
INSURANCE COUNCIL OF AUSTRALIA LIMITED, SUNCORP GROUP LIMITED – ASX SUN, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG

Deluge of flood claims has investors fleeing

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Original article by David Ross
The Australian – Page: 15 : 1-Mar-22

The Insurance Council of Australia has advised that more than 15,000 insurance claims arising from floods in Queensland and New South Wales have been lodged to date. Suncorp had received 5,000 claims by Monday morning, while Insurance Australia Group had received more than 3,200 claims by Sunday evening. Suncorp has also indicated that it may incur losses of up to $75m as a result of the floods; the general insurer recently reported that its costs associated with weather events in the first half of 2021-22 totalled $695m.

CORPORATES
INSURANCE COUNCIL OF AUSTRALIA LIMITED, SUNCORP GROUP LIMITED – ASX SUN, INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG