Brisbane storm estimated losses at $201m

A hailstorm has struck Brisbane and the surrounding area, causing insured damages currently estimated at A$201 million.

This is according to the Insurance Council of Australia (ICA) which said that it has seen 39, 677 claims lodged so far.

Rob Whelan, chief executive officer (CEO) of ICA, said the industry’s response to Thursday’s hailstorm had focused on fast-tracking claims and arranging property and motor vehicle assessments.

“The priority of all insurers has been to ensure claims are processed quickly and assessors are available,” Whelan said.

Insurance Australia Group (IAG) had received approximately 11,000 claims for damage caused by the violent storm.

The majority of claims have been received from personal insurance customers. Approximately 9,000 of the claims received to date relate to motor vehicle damage caused by hail.

Mike Wilkins, IAG managing director and CEO, said: “Our priority is to help our customers as quickly as possible.  Our assessors and claims consultants have been assisting customers since Thursday.  We have already allocated over 500 jobs to builders and restorers, and have increased the capacity of our contact centres to handle calls from the affected areas.

“While call volumes are expected to diminish, it is still too early to reach an accurate estimate of the potential financial impact of this event. We will provide an update as soon as we are in a position to do so.”