Policyholders have lodged more than 9,000 insurance claims associated with the ex-TC Alfred in south-east Queensland and New South Wales as of midday today, the Insurance Council of Australia (ICA) reported today.
The vast majority of claims so far have been from Queensland.
It is too early to estimate the cost of the damage, however based on previous similar events insurers expect many more thousands of claims to be made in coming days and weeks.
Yesterday the ICA declared an Insurance Catastrophe for the southeast Queensland and northern New South Wales regions impacted by this event since Friday 28 February.
The impact of the ex-TC Alfred has been felt most significantly in the Gold Coast, Brisbane, Hervey Bay, and the Northern Rivers, however the declaration covers all claims related to the event since Friday 28 February.
The ICA's Catastrophe declaration serves to escalate and prioritise the insurance industry's response for affected policyholders. Under the Catastrophe declaration:
- Claims from affected policyholders will be given priority by insurers.
- Claims will be triaged to direct urgent assistance to the worst-impacted property owners.
- ICA representatives are mobilised to work with local agencies and services and affected policyholders as soon as emergency services say it is safe to do so.
- Insurers mobilise disaster response specialists to assist affected customers with claims and assessments as soon as emergency services say it is safe to do so.
- An industry taskforce is established to identify and address issues arising from this catastrophe.
Information about clean up and the claims process can be found on the ICA's website: www.insurancecouncil.com.au/DisasterHelp
Quote attributable to Andrew Hall, CEO, Insurance Council of Australia:
This remains an active event and it will take some time to gain a clearer picture of the damage.
Insurers expect a large number of claims will be lodged in coming days as property owners begin returning to homes and businesses.
We encourage policy holders to contact their insurer as soon as practically possible even if they have not been able to return to their home.
