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...
International reinsurers will take a significant share of what is covered, with hydropower plants, engineering projects and commercial property along the China trade corridor driving most claims.
At least 177 have died and 826 are unaccounted for, with insurers estimating early claims for hydropower and construction projects at least in the hundreds of millions of rupees.
