The Insurance Council of Australia (ICA) today said insurers have placed disaster response specialists on standby and have scaled up operations in preparation for Tropical Cyclone Alfred making landfall in the next 24 hours.
The Board of the ICA, comprising the CEOs of Australia's leading insurers and reinsurers, met this morning to discuss arrangements that have been put in place to support customers expected to be impacted by this slow-moving cyclonic system.
The Board updated Assistant Treasurer Stephen Jones on the insurance sector's efforts to support policyholders as well as issues that are expected to arise as result of TC Alfred impacting an area with a population of more than 4 million people.
While the industry has made significant improvements since the 2022 floods in response to the Parliamentary Flood Inquiry, the independent Code of Practice review and its own report undertaken by Deloitte, an event of this magnitude will inevitably throw into relief a range of issues that require coordination between government and industry. These include:
- Supply chain and labour force capacity constraints
- Temporary accommodation availability
- Cross-border recognition of trades qualifications
- Coordination of clean-up operations
Insurers have been and remain in contact with political leaders, impacted MPs, relevant state and Federal agencies, and local governments to discuss these issues and more.
Towns and communities in the Northern Rivers region of New South Wales have already been impacted, with up to 150 millimetres in rainfall experienced in the 24 hours to 9am. Areas inland of Coffs Harbour have reportedly received more than 200 millimetres of rain in the 24 hours to 9am.
While the weather system is changing frequently, the continued potential impact of this event remains widespread with residents in the active warning zone.
Policyholders impacted by TC Alfred should:
- Prioritise safety. If you have evacuated your home or business, only return when it is safe to do so. If your home has water damage, don't turn on your electricity until it has been inspected by an electrician. Do not drive your vehicle if it has suffered water damage.
- Contact your insurer as soon as you can. You can lodge a claim without knowing the full extent of the damage. Your insurer will also have all of your policy information on hand.
- Take photos and make a list of damaged items, including the brand, model and serial number if you can.
Insurers will prioritise impacted customers in communities along the east coast.
The ICA encourages people across southeast Queensland and northern New South Wales to follow the advice of emergency services and keep up to date with weather conditions.
Quote attributable to ICA CEO Andrew Hall:
The Board of the ICA met this morning to discuss this unfolding event and had a very constructive discussion with Assistant Treasurer Stephen Jones.
Insurers reiterated that insurers are committed to supporting customers through this event.
A number of key insurers based in south-east Queensland with operations in impact zone are putting in place contingencies, however their own staff may also be impacted by this event.
Weather events are often unpredictable, and Tropical Cyclone Alfred is proving to be no exception. Safety is our absolute priority and it's paramount those in the impact zone remain alert.
While it's still too early to know what the true impact of this weather event will be, we know that due to the population density in these areas that we may be looking at a very large number of claims.
