‘Our work has only just begun’: Alfred claims surge above 63,000
The number of claims for damage from Ex-Cyclone Alfred has passed 63,000, according to the Insurance Council of Australia’s latest tally, issued this afternoon.
And Suncorp has received more than 20,700 claims so far, the insurer said this morning.
It says 19,000 were lodged by home policyholders, including more than 6000 for food spoilage that have already been finalised.
Suncorp has assessors and builders working in the 33 local government areas hit by the storm.
“While the debris is cleared, our work has only just begun,” CEO Steve Johnston said. “We need to act swiftly to support individuals, businesses and community members as they navigate this challenging time. We understand the urgency of getting people back in their homes as quickly and smoothly as possible.”
Southern Cross Travel Insurance says the storm also affected travellers. It has received 37 claims from Australian customers and paid out more than $12,000.
“Extreme weather events caused by climate change are increasing and, as a result, travellers are facing higher rates of disruption both internationally and domestically,” CEO Jo McCauley said.
ICA has not provided a loss estimate for Alfred, which it declared a catastrophe.
However, S&P Global Ratings says it expects the storm to cost the industry more than $2 billion and UBS analysts say Suncorp may be most exposed to Alfred-related claims.
"The rise in claims count over the weekend is a reassuring sign that clean-up and recovery is well underway across many parts of southeast Queensland and northern NSW," ICA deputy CEO Kylie Macfarlane said.
"While it is still too early to predict the total insured loss from this weather event, the claims data shows that the event is not as significant as first feared across the majority of the impacted zones."