The Insurance Council of Australia has today declared two Significant Events for communities impacted by the recent severe rainfall and flooding across the Northern Territory and Queensland:
- SE263: Northern Territory flooding, including Katherine and surrounding regions
- SE264: Queensland flooding, including the Bundaberg region and Burnett River catchment
Insurers have begun receiving claims across both affected regions, with numbers expected to continue rising over the coming days, however, it is too early to estimate the insurance damage bill.
The immediate priority is the safety of communities dealing with serious and fast-moving flood events across both jurisdictions.
The industry stands ready to support customers, and encourages anyone with property damage or disruption to lodge a claim when it is safe to do so, even if they are unsure of their coverage or the extent of the damage.
A Significant Event declaration escalates and prioritises the insurance industry's response for affected policyholders. Under a declaration:
- Catastrophe claims data collection, analysis and reporting processes are activated in consultation with insurers.
- Real-time tracking of claims volumes, estimated losses and emerging trends is established across the affected regions.
- Engagement takes place with federal, state and territory governments, emergency services and recovery agencies.
- On-the-ground coordination ensures the full scope of community impacts is understood and the industry response is mobilised.
- Affected residents are connected with available support and assistance
The Insurance Council will continue to work with governments as communities recover, and will provide claims updates as more information becomes available.
Quote attributable to Andrew Hall, CEO, Insurance Council of Australia:
Insurers' first priority is community safety and we strongly encourage everyone impacted by these flood events to avoid any activity that could put their safety at risk.
Our advice to affected policyholders is to lodge a claim as soon as you can, even if you don't yet know the full extent of the damage.
Lodging via your insurer's online portal is generally the quickest way to get the process started.
Communities in the NT and along the Queensland Coast have long lived with flood risk, but the gap between what's been built to protect them and what's needed remains far too wide.
These events are another reminder that all levels of government must invest in resilience before disaster strikes, not just recovery after the damage is done.
