Brought to you by:

Vero uses brokers to speed up small flood claims

Insurance brokers can now approve flood claims of up $7000 under a series of changes announced by Vero to more quickly clear small claims awaiting review.

The Suncorp business specialist says brokers have been given authority to accept small claims for domestic clients impacted by flooding in NSW and Queensland, alongside new lodgement procedures allowing multiple claims to be submitted simultaneously.

Suncorp EGM Commercial Claims Matt Pearson says brokers can accept smaller flood claims now and lodge the claim at a later date.

“Empowering brokers to give clients the go-ahead to begin minor repairs to their homes is a logical step,” he said. “It avoids unnecessary delays and frees up Vero staff to concentrate on more complex claims.”

Commercial and personal insurance claims can now be lodged simultaneously via a new spreadsheet on the VeroCentral broker portal.

By Wednesday last week Suncorp had received 23,000 claims at a cost of at least $200 million. The group has a total allowance of $520 million for natural catastrophe losses in the 2013 financial year, with about $323 million remaining before the most recent Queensland floods.