Insurance industry was unprepared to handle 2022 flood claims

In particular, they were not prepared for the severe weather which battered much of eastern Australia last year.

A review by Deloitte has revealed old technology and a lack of skilled staff made disaster compensation a difficult experience for claimants. The Insurance Council of Australia has said it will accept seven improvement recommendations in a bid to improve responses to natural disasters.

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Best, worst shares: ASX resources, gold, insurance stocks tipped to shine by strategistsIt’s too early to cycle into cyclical and interest rate sensitive stocks as the yields on US Treasury bonds keep rising.
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