Insurance Australia Group has been left with a $300-million bill following last week’s devastating storms.
The insurer behind NRMA Insurance and CGU says the storm, which caused widespread damage to the Hunter and Central Coast, will cost it $250-million in claims to customers.
Saturday’s sudden hail storm in Sydney is also likely to cost the general insurer $50-million.
Meanwhile Ausgrid crews are still working to restore power to 5,500 homes in the Hunter and 2,000 homes across the Central Coast.
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