NU Online News Service, Feb. 1, 1:37 p.m. EST
As waterlogged Queensland, Australia, braces for another round of flooding, the Insurance Council of Australia (ICA) raised its estimate of industry losses to $1.5 billion from previous flooding to the same area.
ICA said its members have received about 38,460 claims. Nearly half are for residential properties and about 10 percent are for commercial properties. The ICA also documented claims for resident contents, commercial and personal automobiles, and business interruption. More than half of the claims are from the city of Brisbane.
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