The Insurance Council of Australia (ICA) has announced that insured damages from the severe storms that hit Queensland, New South Wales, and Victoria during the Christmas and New Year period have exceeded $1.2 billion, with more than 97,000 claims lodged.
In December 2023, the ICA declared the severe storms between December 23 and Boxing Day a ‘Significant Event’. Shortly afterward, the ICA reported a significant rise in claims, reflecting the severity of the situation.
The affected regions experienced further extreme weather events into 2024, prompting the ICA to extend its Insurance Catastrophe declaration to January 3.
On January 15, the ICA reported that insurers had received a total of 60,518 claims related to the Christmas and New Year storms.
In June 2024, the ICA and insurers continue to support customers impacted by the severe storms and have been actively present at recovery centres.
A third round of community consultations will be held in Jimboomba, Upper Coomera, and Tamborine between June 18 and 20, following successful events in January and March.
