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Hail losses continue to rise

Losses from hailstorms that hit the ACT, Victoria and NSW last month are set to continue rising as claims are still being lodged.

Canberra was particularly hard-hit by the brief but destructive storms, with golfball-sized hail falling during the afternoon of January 20.

MGA Canberra Branch Manager Ben Hanson says some people with relatively minor damage have delayed putting in claims while others are now just starting the process.

“I am expecting a lot more claims to come in during the next two or three weeks and beyond, but from our perspective the worst of it is over,” he told insuranceNEWS.com.au.

MGA is the largest strata property broker in the area, and the hailstorms affected parts of the city with large developments.

“We have some body corporates with 100 units in them and a majority of them have some damage,” Mr Hanson said.

The Insurance Council of Australia (ICA) will hold a community meeting on Thursday for ACT and Queanbeyan residents affected by the storm.

Losses from the hailstorms, which also hit parts of Melbourne and Sydney over a two-day period, had risen to $514 million from 55,650 claims by January 23, ICA says.

The ACT accounts for 53% of the claims, while 30% are from Victoria and 17% from NSW.