epa05348020 Waves crash against a garden swimming pool that was washed away from a property on the beach front after heavy rain and storms at Collaroy in Sydney's Northern Beaches, New South Wales, Australia, 06 June 2016. Major flooding and heavy rain is predicted to continue across parts of central and southern New South Wales (NSW) as a powerful storm which lashed the state during the weekend heads towards Tasmania. EPA/DAVID MOIR AUSTRALIA AND NEW ZEALAND OUT
SYDNEY: A weekend of wild weather in Australia disrupted everything from the Internet to shipping and banking, while pummelling coastal towns and exposing insurance companies to hefty payouts.
Stocks in Australia biggest insurers, including QBE Insurance, Insurance Australia Group and Suncorp, were lower on the Australian Securities Exchange, with the wider market trading in positive territory.
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