$2bn Pasha Storm
Newcastle Herald
Monday June 2, 2008
THE full cost of last year's devastating Pasha Storm has surged past $2 billion with a new report showing the extent of under-insurance, business revenue losses and flood-related job losses.
The Hunter Valley Research Foundation will today release the findings of its study of the economic and social impact of the June 8 storm and flooding.The key findings of the Rising Waters report are: ? 240,400 Hunter people were negatively affected;? $1.3 billion damage to property, excluding public-owned infrastructure;? $364 million damage to uninsured property;? 1170 Hunter jobs lost.The Insurance Council of Australia has so far received 102,000 claims from storm-affected policyholders. Reports, Pages 4, 5
© 2008 Newcastle Herald