Aussie Insurers Warn Against ‘Disaster Chasers’

Aussie Insurers Warn Against ‘Disaster Chasers’
An inundated structure by floodwaters is seen in Richmond, Sydney on March 22, 2021. Saeed Khan/AFP via Getty Images
AAP
By AAP
Updated:

People affected by a massive flood event in the Australian state of New South Wales (NSW) are being warned to avoid “disaster chasers,” with the insurance bill for the once-in-a-generation event tipped to top $1 billion.

Insurance Council of Australia (ICA) CEO Andrew Hall says insurers have so far received 9,500 claims from residents and business owners.