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THE Christmas Day hailstorm that lashed Victoria has punched an estimated $85 million hole in Insurance Australia Group’s profits, rounding out a horror year for the industry.
IAG, the nation’s biggest insurer of cars and homes, yesterday revealed it had received about 24,000 claims after storms pounded the state.
It expects the total claim for the storm to be between $180 million-$200 million.
Source: The Herald Sun
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