The insurance industry loss from three summer catastrophe events in Australia has now passed AUD 2.2 billion, according to the latest data from the Insurance Council of Australia (ICA).
According to the latest figures, more than 25,770 claims have now been received after severe monsoon conditions in February led to inundation in and around Townsville and parts of Central Queensland. The ICA says the loss stands at around AUD 1.041 billion.
130,000 claims have now been received from the December 20th NSW hailstorm, with insurance losses now totalling AUD 1.189 billion. According to the ICA, over 30,000 hail related claims have already been closed.
An additional AUD 20 million is added to the total insurance loss bill from the Bunyip bushfires in eastern Victoria in late February, from 365 claims.
Speaking at an insurance policyholder forum in Townsville, ICA General Manager of Communications and Media Relations, Campbell Fuller, said: “Insurers are working around the clock in three states to support customers affected by extreme weather catastrophes.
“They are also standing by to help policyholders in Queensland, the Northern Territory and north-western WA who have suffered losses caused by cyclones Trevor and Veronica.”
