The severe storms that swept through Australia’s east coast recently are expected to cost more than $40 million. But the Insurance Disaster Response Organisation (IDRO) says the widespread damage to homes and businesses across southeast Queensland, Melbourne, Tasmania and the NSW south coast is within industry expectations.

IDRO National Co-ordinator Chris Henri says the storms weren’t a major disaster in insurance terms. The Queensland storms alone have already cost the industry more than $25 million and two torrential downpours in Melbourne’s eastern suburbs ran up a bill of $15 million. 

“This type of weather is common along the east coast at this time of the year, and is something insurers deal with on a regular basis,” Mr Henri said.