Wednesday 24 January 2024
The Insurance Council of Australia (ICA) today released the first estimate of the cost of claims from ex-Tropical Cyclone Jasper and the Christmas and New Year storms.
The costs from these events has exceeded $743 million in insured losses.
Ex-TC Jasper impacted regions from Cape York Peninsula to Townsville from 10 to 16 December, while the Christmas and New Year storms impacted regions of Queensland, New South Wales and Victoria from 23 December to 3 January.
Of the claims received for the Christmas and New Year storms, 74 per cent are from Queensland, 21 per cent from New South Wales and 5 per cent from Victoria.
The Insurance Council and insurers are in Cairns today for community forums and customer consultations, providing information and support to those impacted by ex-TC Jasper.
The Insurance Council and insurers will hold community forums and consultations in Upper Coomera, Jimboomba and Tamborine Mountain in south-east Queensland from 31 January to 2 February.
These forums give impacted policyholders an opportunity to meet in-person with their insurer, as well as provide useful information on the claims process and appeal avenues.
Quote attributable to ICA CEO Andrew Hall:
Insurers are closely monitoring the situation in Queensland as it is clear we are still moving through the summer season of tropical weather with another potential cyclone forming in the Coral Sea.
These two severe weather events have had a significant impact on many, and insurers are committed to supporting their customers through this challenging time.
We encourage anyone affected by Cyclone Jasper and the flooding or the Christmas and New Year storms to contact their insurer as soon as possible to lodge a claim.
*Additional insurance categories not shown include commercial property, commercial motor, and body corporate.