NSW floods now Australia’s most expensive natural disaster as insurance claims skyrocket

Mayor of flood-hit Forbes says some residents have been told their policies won't be renewed, as parts of the state remain isolated

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The ongoing New South Wales flood crisis is now Australia's most expensive natural disaster, with insurers estimating $5.5bn in claims have been lodged this year.

The mayor of Forbes, Phyllis Miller, says some people with existing policies have received letters saying they will not be renewed, while others say insurers refused to cover them to begin with.