Widespread flooding in northern Australia has caused economic disruption and sent coal prices soaring, but reinsurers are likely to avoid heavy losses, according to industry participants.

Dom del Re, a London-based director at risk advisory company RMS, said the recent floods in Queensland, in Australia’s north east, will not have as great an impact on the global reinsurance market as last year’s earthquakes in Chile and New Zealand.

The two events were among the costliest in terms

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