Victorian brokers brace for bushfire aftermath
Brokers in country Victoria face a tough week in the aftermath of the devastating bushfires that have killed more than 108 people. In many cases they’ll be dealing with the business of dead clients they knew well.
It will be also be a tough week for insurance claims staff and loss adjusters. More than 750 homes have been destroyed, with insured losses likely to exceed several hundred million dollars.
NIBA CEO Noel Pettersen says his members are busy this morning contacting clients, and are expecting a tough week ahead.
Traralgon broker Alan Wilson told insuranceNEWS.com.au this morning it is too early to estimate the number of his clients who have been affected.
“We just don’t know yet,” he said. “Later in the day we will have a better idea.
“We know personally some of the people who have died. We’ve got clients in Kinglake and some have died close to here.”
Bendigo broker Tony McCormick told insuranceNEWS.com.au he conducted an emergency meeting with staff over the weekend in preparation for the week ahead.
“We went through the database to see what clients were in the affected area,” he said. “We have had some total losses. We’ve put out messages on the local radio with an emergency contact number. Calls are already starting to come in.”
Mr McCormick says it’s too early to estimate the number of affected clients, but his staff face a tough week.
“The emotional side is the biggest issue – mentally getting through it,” he said. “This is where we get tested and our promises get tested. We have to get on the front foot, but putting in those extra hours is nothing when you consider what some of our clients are going through.”
Deputy Prime Minister Julia Gillard yesterday urged insurers to respond to claims “sympathetically and quickly”.
The major complication in some cases is likely to be the incidence of underinsurance and non-insurance. The 2003 Canberra bushfires revealed six of the 488 homes destroyed were not insured and many others were underinsured by up to 40%.
Insurance Council of Australia (ICA) CEO Kerrie Kelly says loss adjusters will begin work as soon as they can gain access to the affected areas. “At this stage it is too early to provide an estimate for the expected insurable recovery cost.”
It will be also be a tough week for insurance claims staff and loss adjusters. More than 750 homes have been destroyed, with insured losses likely to exceed several hundred million dollars.
NIBA CEO Noel Pettersen says his members are busy this morning contacting clients, and are expecting a tough week ahead.
Traralgon broker Alan Wilson told insuranceNEWS.com.au this morning it is too early to estimate the number of his clients who have been affected.
“We just don’t know yet,” he said. “Later in the day we will have a better idea.
“We know personally some of the people who have died. We’ve got clients in Kinglake and some have died close to here.”
Bendigo broker Tony McCormick told insuranceNEWS.com.au he conducted an emergency meeting with staff over the weekend in preparation for the week ahead.
“We went through the database to see what clients were in the affected area,” he said. “We have had some total losses. We’ve put out messages on the local radio with an emergency contact number. Calls are already starting to come in.”
Mr McCormick says it’s too early to estimate the number of affected clients, but his staff face a tough week.
“The emotional side is the biggest issue – mentally getting through it,” he said. “This is where we get tested and our promises get tested. We have to get on the front foot, but putting in those extra hours is nothing when you consider what some of our clients are going through.”
Deputy Prime Minister Julia Gillard yesterday urged insurers to respond to claims “sympathetically and quickly”.
The major complication in some cases is likely to be the incidence of underinsurance and non-insurance. The 2003 Canberra bushfires revealed six of the 488 homes destroyed were not insured and many others were underinsured by up to 40%.
Insurance Council of Australia (ICA) CEO Kerrie Kelly says loss adjusters will begin work as soon as they can gain access to the affected areas. “At this stage it is too early to provide an estimate for the expected insurable recovery cost.”