As of the 22nd of November, insurers have received 15,870 claims, including 11,199 motor vehicle associated claims. Losses have been estimated at a value of $120 million, these numbers are still expected to increase.
A hailstorm impacted communities throughout Southeast Queensland, earlier this week the ICA informed the public that it has been declared a catastrophe.
The Insurance Group Australia has obtained more than 548 claims for bushfire associated damages and more than 1718 claims from the Queensland hailstorm.
The cost of repairing damages caused by floods are on an upward spiral even as the effect of those preparing claims is felt across the industry in the aftermath of this year’s Townsville floods, new reports have revealed.