Real costs of extreme weather

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EXTREME weather caused almost $3.5B in insured losses across 264,000 claims in 2025, according to the Insurance Council of Australia. Ex-Tropical Cyclone Alfred was the costliest event at $1.5 billion, while severe spring hailstorms added $1.4B. Five major events were declared significant or catastrophic. Insurers expect costs to rise as more claims arrive and continue supporting recovery efforts, with further extreme weather already impacting Australia in early 2026.

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