The Insurance Group Australia has obtained more than 548 claims for bushfire associated damages and more than 1718 claims from the Queensland hailstorm.

According to the Insurance Council of Australia (ICA) the hailstorm at the Sunshine Coast has caused $60 million in insured losses from 7500 claims purely from the Sunshine coast

On the 18th of November the Insurance Council of Australia announced the storm as a catastrophe, the second within the the last two weeks with the Queensland bushfires and the sixth for this year so far. The insurance industries overall loss in natural disasters this year are now at more than $1.56 billion.

Around 80% of the insurance claims from the Southeast Queensland storm were vehicle associated as hailstones the size of cricket balls rained down in the Sunshine Coast and some parts of Brisbane.

The Insurance Australia Group, while adding motor accounts for the majority of the damaged sustained, has obtained more than 1718 claims from the storm across its insurance brands.

The Insurance Australia Group is setting up professional hail repair units on the Gold Coast, Brisbane and the Sunshine Coast to help the affected customers. Simultaneously, New South Wales and Queensland are still at war with the dozens of bushfires burning in hot and windy conditions.

Damages and Claims for the Bushfires

As reported by the Insurance Council of Australia, insured losses from the bushfires have risen to at minimum $110 million and are anticipated to grow in the coming days.

The New South Wales bushfires have incinerated 577 homes and counting, the Rural Fire Service has made a warning that the worst it yet to come as summer officially starts next month. At 3:00pm today there were 56 fires burning across the state, including 26 that are still yet to be contained and controlled. Parts of Sydney are clouded in smoke caused by the fires on the North Coast and in the Hawkesbury area.

“The smoke is expected to hang around for the next couple of days due to the current conditions,” the Rural Fire Service says.

The Bureau of Meteorology (BoM) has predicted severe heatwave conditions that will develop over the next few days in New South Wales and the Australian Capital Territory.

The Insurance Australia Group has mentioned that it has obtained more than 548 claims for bushfire associated damages. Claims assessment work has begun in some areas.

The information contained in this article is of a general nature only. It does not take your specific needs, objectives or circumstances into consideration, and is not financial advice, legal advice or otherwise a recommendation to purchase any financial product or insurance policy. You should seek your own independent financial advice from a qualified financial and insurance adviser before making any financial decisions, and seek your own independent legal advice from a qualified solicitor before making any decisions of a legal nature.

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