FLOODS – QUEENSLAND

Flood farmers face big stock losses

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Original article by Brittney Levinson
The Australian Financial Review – Page: 4 : 7-Jan-26

The federal and Queensland govenments will jointly provide $38m in disaster relief assistance for farmers who have been affected by severe floods in the state’s northwest. Grants of up to $75,000 will be available, including upfront payments of $10,000. Prime Minister Anthony Albanese announced the package during a visit to Cloncurry, which is one of the regions that have been hit by the heavy rains since late December. Queensland’s Department of Primary Industries has advised that the number of livstock that is dead or missing now exceeds 20,000.

CORPORATES
AUSTRALIA. DEPT OF THE PRIME MINISTER AND CABINET, QUEENSLAND. DEPT OF PRIMARY INDUSTRIES

Floods to lift reinsurance costs: Youi

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Original article by Liam Walsh
The Australian Financial Review – Page: 17 : 29-Mar-21

The Insurance Council of Australia notes that more than 25,600 insurance claims arising from the recent floods in New South Wales and Queensland have been lodged to date. Youi CEO Hugo Schreuder says the insurer has already received about 1,000 claims, and he warns that the floods may result in higher reinsurance costs. This could in turn increase the insurance premiums of customers. Meanwhile, the ICA is concerned that so-called ‘disaster chasers’ could increase the final cost of the floods, by encouraging policyholders to make claims that were not directly linked to the floods.

CORPORATES
INSURANCE COUNCIL OF AUSTRALIA LIMITED, YOUI PTY LTD