The Insurance Council of Australia (ICA) has today extended the previously declared insurance catastrophe to include South East Queensland, in order to prioritise support for the growing number of policyholders in the region affected by extreme weather.
The ICA on 22 March declared an insurance catastrophe across large parts NSW.
Policyholders in NSW and Queensland have lodged more than 17,000 claims as of 9.30am today, with 15 per cent from Queensland.
The ICA estimates the total value of claims received across both states at $254.2 million, based on the average cost of claims from previous similar events. (Please note: this estimate is not based on the value of the actual claims.)
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-affected property owners
- The ICA's disaster hotline has been activated – 1800 734 621 – to assist policyholders if they are uncertain of their insurance details or have general inquiries about the claims process. (Please note: this is not a claims lodgement service.)
- ICA representatives will be mobilised to work with local agencies and services and affected policyholders as soon as emergency services say it is safe to do so
- Insurers will 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 has been established to identify and address issues arising from this catastrophe
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