The Insurance Council of Australia (ICA) has said that insurers have now received more than 29,000 claims as a result of damages caused by recent hailstorms that hit parts of the country, driving estimated insurance industry losses of AUD 320 million (USD 219 million).
The ICA has declared a catastrophe for damage caused by the recent hailstorms that struck eastern Melbourne, the Australian Capital Territory and parts of New South Wales on Sunday and Monday.
Of the 29,000 claims received so far, 56% are from the Australian Capital Territory, 34% from Victoria, and 10% from New South Wales, says the ICA. Furthermore, the organisation states that around two-thirds of the claims are for damages to motor vehicles.
It’s expected that thousands more claims will filter through in the coming days and weeks as property owners inspect damage and contact their insurance companies.
Karl Sullivan, ICA’s Head of Risk and Operations, has said that insurers would priorities claims from hail-affected areas.
“Property owners should contact their insurer before commissioning any repairs to their homes or business to ensure these works are paid for under their policy,” said Sullivan.
Over Sunday and Monday, storms brought severe hailstorms and heavy downpours to parts of south-east Australia, causing major damage in areas already ravaged by the ongoing bushfire crisis. While the rains and resultant flooding have helped to ease bushfire conditions in some areas, authorities have warned that the danger is “far from over.”
