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Townsville meetings called as thousands of claims remain open

The Insurance Council of Australia (ICA) will host consultations in Townsville next month for policyholders who have not yet finalised claims following the devastating February floods.

ICA figures show 6513 claims are still open, out of 30,396 received. Some 520 claims have been denied, 713 are subject to internal dispute resolution and 142 are with external dispute resolution.

New claims are still coming in, with 200 received in the past month.

Insurance company representatives and ICA executives will be available for one-on-one consultations on Friday November 1 and Saturday November 2, between 9am and 5pm. Consultations are for policyholders only and registration is essential.

“The consultations are for customers to speak to their insurer or the ICA about the progress of their claims,” CEO Rob Whelan said.

“ICA is also offering Townsville residents and business owners the opportunity to discuss their current insurance needs with ICA representatives.”

Losses from the event are estimated at $1.25 billion, with most claims for residential building damage, followed by contents and motor vehicle claims.

More than $800 million has already been delivered to the local economy through rebuilding and repair works, business interruption payments, provision of emergency accommodation and the use of local suppliers and tradespeople.

About 1800 local jobs are being supported through the industry’s response.

ICA says 75% of claims for residential buildings have been closed and almost 100% of vehicle claims are closed. Of 1556 critically damaged homes, only 334 are still undergoing repairs.