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2025 extreme weather claims reach $1.2 billion

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News release

Wednesday, 2 April 2025

New data released today by the Insurance Council of Australia (ICA) shows that insurance losses from ex-Tropical Cyclone Alfred and February’s North Queensland floods have exceeded $1.2 billion.

Insurers have received more than 95,000 claims relating to damage following ex-Tropical Cyclone Alfred totalling almost $1 billion.

Thirty per cent of these claims have already been settled, reflecting the industry’s prioritisation of immediate relief payments, the majority of which relate to food spoilage and temporary accommodation.

Other claims such as those relating to structural damage, inundation and circumstances where homes are uninhabitable are being prioritised by insurers.

Insurers have received more than 10,000 claims following the North Queensland floods totalling $233 million.

Many of these claims are due to food spoilage and water ingress from various sources including wind driven rain, overflowing gutters and inundation.

The insurance industry is closely monitoring the severe weather and flooding impacting western Queensland, particularly in the central west and southwest regions.

This remains an active emergency across a vast area, with access challenges due to flooding and distance.

With more rain anticipated, insurers’ priority is community safety, and we urge all those affected to monitor conditions and follow emergency services’ advice.

Quotes attributable to ICA CEO Andrew Hall:

It’s been a busy start to 2025 with extreme weather events, particularly for Queenslanders who are now seeing widespread flooding across the state’s west.

While only a small number of claims have been received so far for the most recent floods in western Queensland, insurers are assisting customers to help ease stress and uncertainty. Once access is restored, insurers stand ready to deploy resources to impacted areas.

If anyone has been impacted by any of these weather events and is yet to make a claim, we encourage you to get in touch with your insurer as soon as you can, even if the extent of the damage isn’t yet known.

The ICA continues working with governments and relevant agencies on the support the recovery of communities impacted by the North Queensland floods, ex-TC Alfred and the unfolding western Queensland weather event.

 

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