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Australian insurer IAG receives 8,000 claims after heavy rains, expects more

March 26 (Reuters) - Insurance Australia Group Ltd said on Friday it had received around 8,000 claims, largely for property damage, due to heavy rains and flooding in New South Wales and parts of Queensland.

The insurer said the claims were expected to rise, and forecast net cost due to the event to be around A$135 million ($102.34 million), citing past experiences with similar incidents. ($1 = 1.3191 Australian dollars) (Reporting by Rashmi Ashok in Bengaluru; Editing by Aditya Soni)

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