Insurance Council of Australia (ICA) has declared a fourth catastrophe for 2017 after storms struck parts of regional Victoria and metropolitan Melbourne on Tuesday causing significant property and vehicle damage with insured losses estimated at $105 million.
ICA Chief Executive Officer (CEO) Rob Whelan, said insurers had received over 25,000 claims today so far, and claims lodged are expected to soar in coming weeks.
Whelan said; “the Insurance Council encourages insured property owners and motor vehicle owners who have suffered damage from these storms to contact their insurers or insurance brokers as soon as they can to get the claims process moving and receive the assistance they’re entitled to under their policy.
“A significant number of claims is for hail damage to cars and to roofs, while other damage has been caused by water inundating properties.
“Insurers are standing by to handle customer inquiries. They are prioritising claims from this disaster, and will organise any emergency repairs or temporary accommodation where it’s applicable under the policy.”
Other catastrophes declared by the ICA this year were Cyclone Debbie which left insured losses of $1.6 billion from 73,556 claims after it struck in March, New South Wales storms in February caused $512 million insured losses from 53,700 claims and bushfires in the same region that led to $33.5 million losses from 2000 claims.
