Melbourne storms declared an official catastrophe, bringing insured losses in Australia to $4.5 billion

Melbourne, the second largest city in Australia, had turbulent Christmas Day as a series of severe storms impacted the city. The storms have caused a large amount of damage to businesses and the city’s energy infrastructure, according to insurer QBE. On the day of the storm, insurers fielded more than 15,000 claims and more have been trickling in over the past week. The Insurance Council of Australia (ICA) has declared the storms an official catastrophe, making the event the eighth disaster declaration in the country in just under a year.…

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