Tropical Cyclone Alfred and the related severe weather event in South-East Queensland and northern New South Wales has been declared an insurance catastrophe, allowing affected residents to be prioritised by insurers.
Insurance Council of Australia (ICA) CEO Andrew Hall said the declaration also meant claims would be triaged to direct urgent assistance to the worst-impacted property owners.
“Although Tropical Cyclone Alfred weakened before making landfall, widespread power outages, heavy rain, flooding, and falling debris continue to impact South-East Queensland and northern New South Wales,” Mr Hall said.
He said the impact of the ex-TC Alfred had been felt most significantly in the Gold Coast, Brisbane, Hervey Bay, and the Northern Rivers, however the declaration covered all claims related to the event since Friday, February 28.
“Insurers have received almost 3000 claims so far.”
Mr Hall said the ICA’s Catastrophe declaration served to escalate and prioritise the insurance industry’s response for affected policyholders and mobilised ICA representatives to work with local agencies and services and affected policyholders as soon as emergency services said it was safe to do so.
He said an industry taskforce would also be established to identify and address issues arising from the catastrophe.
“It’s too early to understand the extent of the damage to property in affected areas and to estimate the insurance damage bill.
“(We) expect many more thousands of claims as residents return to their homes and understand the full extent of the damage.”
Information about clean up and the claims process can be found on the ICA’s website.
