Larry damage moderate claims S&P
Standard & Poor's Ratings Services has said that while the impact of Cyclone Larry, which hit Far North Queensland on March 20, 2006, constitutes a major disaster for the region, it is expected to be a moderate insurance event, with insured losses at this stage estimated by Standard & Poor's to be between A$300m and A$400m.
"While profitability of insurers and reinsurers will be reduced slightly from this event, the scale of the losses will have little impact on the financial strength of the industry," said credit
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