Extreme weather insurance losses hit $4.8b as storms overtake Cyclone Alfred as costliest event

Extreme weather events cost $4.8 billion in insured losses across 294,000 claims in 2025, according to updated figures from the Insurance Council of Australia (ICA), representing a 727 per cent increase on the $585 million recorded in 2024.

The total economic cost is estimated at more than $8.6…


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