Insurers Declare Catastrophe for Storm Battered Parts of New South Wales

The Insurance Council of Australia (ICA) this morning declared a catastrophe for storm-affected parts of New South Wales [NSW], in particular the Central Coast, Hunter, Greater Sydney Metropolitan and Illawarra regions.

The ICA said that “as of 7am insurance companies had received more than 19,500 claims, with losses estimated at A$129 million [US$100.6 million].”

Insurance Council CEO Rob Whelan said insurance companies had declared a catastrophe to enable industry resources to be fully harnessed to assist affected communities. He said: “These storms have caused damage across large parts of NSW.

“Though most claims so far have been for low-level property damage, mainly from water and wind damage to homes and damage to cars, insurers are also receiving claims for severe damage to houses and roofs,” he continued. Claims are also being received for storm water inundation.

“I expect these numbers will rise quickly as home owners and businesses assess the damage to their properties and lodge claims with their insurer or through their insurance broker.”

Whelan also noted that insurers were standing by to assist policyholders and steer them through the claims process. “All claims from these storms will be prioritized. Insurers are focused on handling claims and undertaking assessments as soon as possible,” he said.

Following the declaration of a catastrophe the ICA also gave emergency contact numbers, including a “claims hotline,” for those people affected by the storm to call for information and assistance.

Source: The Insurance Council of Australia (ICA)