The Insurance Council of Australia (ICA) last week declared a catastrophe following storms that caused extensive hail and water damage across Sydney and the Central Coast in New South Wales (NSW).
As of Dec. 21, insurers had received more than 25,000 claims, with losses of more than A$125 million (US$88 million), said the ICA in a statement.
The ICA said these figures are expected to rise sharply as householders, vehicle owners and small businesses examine the damage and file claims.
“The catastrophe declaration means insurers will make claims from this storm their priority,” said Campbell Fuller, ICA general manager communications and media relations. “They will triage claims to ensure the worst-affected policyholders receive urgent attention,” he said.
Fuller said about three-quarters of the claims received were for damage to cars and other vehicles, typically smashed windscreens and dented panels. Many homes and businesses suffered damage to roofs, awnings and solar panels, and overflowing gutters have caused interior damage to some properties.
This is the fifth catastrophe declared this year by the ICA. In March, bushfires in NSW and Victoria resulted in A$82.5 million (US$58.08 million) in insured losses. In the same month, Cyclone Marcus caused A$62 million (US$43.7 million) in claims, with A$16.8 million (US$11.8 million) from floods in Queensland. In May, storm and flood damage around Hobart resulted in A$99.6 million (US$70.1 million) in insured losses.
Source: Insurance Council of Australia (ICA)
Topics Catastrophe USA Natural Disasters Australia
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