by Flick user freefotouk / Ian Britton, Creative Commons BY-NC 2.0, http://www.flickr.com/photos/freefoto/2837469960/
In a report published by Allianz, the German insurer urged fellow insurers to spread awareness on 'the need for effective risk prevention,' according to AlertNet. Flood risk needs to be considered seriously as it can be seen with the case of Australia that amounted to $364 million in insurance claims after devastating floods.
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Hazards
Flood
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Insurance and risk transfer
Country and region
Australia