Disaster insurance claims driven by Queensland events

Flooding is the nation's most costly natural peril, according to the Insurance Council of Australia. (HANDOUT/QUEENSLAND FIRE AND EMERGENCY SERVICES)

Insurance claims linked to extreme weather events, such as flooding, flatlined in the last financial year, as flood events dominated again.

Providers paid out $2.2 billion in claims from extreme weather events in 2023/24, in line with the previous year, data from the Insurance Council of Australia show.