Cost of claims for weather events more than doubles for many insurers
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Vero reported that weather-related natural hazard claims rose to 185 million dollars in the year ending June 30. This figure is more than double the previous year. In that prior period, claims totaled 70 million dollars. The lower amount was due to a lack of major weather events during that time.
Vero says weather-related natural hazard claims had jumped to $185 million in the year to 30 June which was well over double the previous year, when few major weather events occurred and claims totalled $70m.