Brisbane storm costs continue to rise
The Insurance Council of Australia (ICA) has raised the cost of the industry’s share of claims and repair costs from last November’s devastating Brisbane storms.
ICA says insurers have now received 34,000 claims worth $309 million. Most of them are for minor damage to vehicles and property.
CEO Kerrie Kelly says there are still 172 homes in need of significant repairs. “As such, insurers are focused on servicing those most in need as a priority,” she said.
She says policyholders should liaise with their insurer to make sure issues such as securing quotes from builders and agreement on repairs are dealt with.
“Work can typically not commence on a property until these issues are settled and appropriate building applications lodged and contracts established between the owner and the repairer,” Ms Kelly said.
ICA says insurers have now received 34,000 claims worth $309 million. Most of them are for minor damage to vehicles and property.
CEO Kerrie Kelly says there are still 172 homes in need of significant repairs. “As such, insurers are focused on servicing those most in need as a priority,” she said.
She says policyholders should liaise with their insurer to make sure issues such as securing quotes from builders and agreement on repairs are dealt with.
“Work can typically not commence on a property until these issues are settled and appropriate building applications lodged and contracts established between the owner and the repairer,” Ms Kelly said.