The broker says more granular property-level data could help insurers distinguish between homes that share the same floodplain but face very different levels of exposure.
Premiums for medium-to-high risk homes dropped and quote success rates rose, but lowest-risk areas saw a 31% premium rise driven by broader market forces.
Narelle 2, Fina, and Koji were the season’s largest declared events by estimated ultimate loss, with ARPC citing complex, geographically dispersed impacts.
The insurance sector faces the potential for added pressure amid ongoing claims from recent NT and QLD floods, both states which could be impacted by Narelle.