The IAG brand has handed out its opening round of locally decided awards in a flood-hit region of New South Wales, with emergency communications the dominant theme.
Asia's catastrophe protection gap remains among the world's largest, with only 14% of disaster losses insured despite rapid growth in insured exposure across the region.
Insurers have so far counted US$170m in preliminary claims, but the country may need up to US$5bn, or around 10% of GDP, to rebuild after the disaster.
Hydropower projects account for nearly 80% of reported losses, with widespread damage to energy infrastructure expected to drive the bulk of insurance claims.
Roof tiles have risen 77% in five years and Queensland build costs went up around 45% since 2021, with insurers receiving 409,094 home claims worth A$11.3bn (US$8.1bn) since 2022, according to ICA fig...
