STORM DAMAGE CLAIMS HIT $38M

Written on the 7 June 2016

STORM DAMAGE CLAIMS HIT $38M

THE severe storms that pummelled the east coast over the weekend have been declared an insurance catastrophe with claims tipping $38 million.

The Insurance Council of Australia (ICA) has recorded more than 11,150 claims from across the east coast of Queensland and NSW over damage related to heavy rainfall.

ICA acting CEO Karl Sullivan says insurers will be able to fully harness the industry's disaster response resources following the catastrophe declaration.

"The ICA and its members are liaising with state governments, agencies and the emergency services in response to the damage caused by these storms," Sullivan says.

"So far most claims concern typical storm damage, such as roof and gutter damage, and damage due to fallen trees. There are also reports of cars being flooded in some locations."

As a result of the catastrophe declaration, the ICA has established a taskforce to identify potential issues, activated its disaster hotline and prepared staff to work with affected policyholders.

"The ICA expects the number of claims will keep rising over coming days as evacuated residents return to their homes to assess the damage," Sullivan says.

"Insurers are also standing by to assist their policyholders in Victoria and Tasmania as the low pressure system pushes southwards.

"Policyholders who have been affected should contact their insurance company as soon as possible so the claims process can commence.

"Insurers have electronic records and policyholders who can't find their paperwork need only provide their name and address."

He says it's important to take photos of damage to support the claim and speak to your insurer before completing any repairs.

Policyholders who are unsure about the claims process can call the disaster hotline on 1800 734 621.

 


Latest News

DARK DAYS AHEAD FOR AUSTRALIAN RETAIL AS REPORT FORECASTS MAJOR INDUSTRY ROUT

ALMOST 1,600 retail businesses are at risk of imminent collapse, including 21 major retailers with turnovers of more ...

GOODMAN TAKES PROFIT AND REVENUE DECLINE BUT LOOKS TO CASH IN ON AMAZON'S ARRIVAL

Commercial and industrial property group Goodman (ASX: GMG) has reported underlying full year net profit has dropped ...

REPORTING SEASON WRAP: MONDAY HIGHLIGHTS

* FORTESCUE Metals (ASX: FMG) reported net profit after tax (NPAT) of $2.64 billion for the year to June 30, up fr...

ARIADNE CUTS DEMANDS FOR FOUR ARDENT BOARD SEATS TO TWO AHEAD OF EGM

REBEL shareholders have reduced their demands on embattled theme parks operator Ardent Leisure (ASX: AAD) to give the...

Related News

DARK DAYS AHEAD FOR AUSTRALIAN RETAIL AS REPORT FORECASTS MAJOR INDUSTRY ROUT

ALMOST 1,600 retail businesses are at risk of imminent collapse, including 21 major retailers with turnovers of more ...

REPORTING SEASON WRAP: MONDAY HIGHLIGHTS

* FORTESCUE Metals (ASX: FMG) reported net profit after tax (NPAT) of $2.64 billion for the year to June 30, up fr...

WESFARMERS BOOKS BUMPER PROFIT BUT SUPERMARKET WAR HITS COLES' BOTTOM LINE

SUPERMARKET giant Coles has posted its biggest slide in earnings since it was acquired by Wesfarmers (ASX: WES) 10 ye...

ANALYSTS PREDICT WHAT AUSSIE LIVING IS LIKELY TO BECOME IN THE NEXT CENTURY

AS THE Australian population continues to grow, analysts are predicting what the country is likely to look like wi...

BOOK YOUR FUNCTION SPACE HERE

 

 

 

Contact us

Email News Update Sign Up Contact Details
Subscriptions

PO Box 2087
Brisbane QLD 4001

LoginTell a FriendSign Up to Newsletter