STORMS WREAK $1.55B OF DAMAGE

Written on the 4 June 2015

STORMS WREAK $1.55B OF DAMAGE

INSURANCE claims for the wild weather that hit south-east Queensland and New South Wales earlier this year have hit $1.55 billion.

Member companies of the Insurance Council of Australia (ICA) have received 27,825 claims for storms that rolled across Brisbane and surrounding regions in April and May.

The damage bill for the area reached more than $360 million in domestic and commercial claims.

New South Wales was the hardest hit, particularly the Central Coast, Greater Sydney Metropolitan and Illawarra regions, with 119,935 claims at a total of $801.7 million.

Insurers are also handling 14,239 claims following the hailstorm that struck Sydney on Anzac Day, with losses of $389.8 million mainly for damage to industrial properties.

Claims for ICA-declared catastrophes have totalled more than $3.45 billion since November last year, following Tropical Cyclone Marcia, South Australian bushfires and Brisbane hailstorm.

The ICA says brokers continue to handle fresh claims from household and commercial policyholders.


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