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Tens of thousands poring over their flood insurance coverage

The insurance bill for floods in southeast Queensland and northern New South Wales is expected to surge into the billions of dollars' value, with thousands pondering whether they have sufficient coverage.

 Traditional regional timber country home with water up the windows.
A deluge of insurance claims are pouring in even as floodwaters rise.

With the insurance bill for floods in southeast Queensland and northern New South Wales expected to surge into the billions, the Insurance Council of Australia (ICA) on Monday (28 February) extended the Insurance Catastrophe Declaration it made on the weekend.

Since 21 February, insurers have received almost 50,000 claims from policyholders related to extreme rainfall in both states, with 17,000 filed in 24 hours to 2 March.

Some 37,807 of the …