There were $2.28 billion in losses caused by Nat-Cat events from 2020-2021, says a report from the Insurance Council of Australia. (Credit: ink drop/Adobe Stock)
From wildfires to landslides, Australia has seen its share of loss from natural disasters. A recent report from GlobalData demonstrates that climate change-induced natural catastrophic (Nat-Cat) events have driven the amount of claims paid by Australian insurers much higher in just the last few years – with loss ratios climbing from 66.1% in 2019 to 84.6% in 2021.
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Brittney Meredith-Miller
Brittney Meredith-Miller is assistant editor of PropertyCasualty360.com. She can be reached at [email protected].
