Insurance Council Urges Prompt Lodgement of Claims for Ex-Cyclone Alfred Damage
The Insurance Council of Australia (ICA) is urging residents to photograph and document losses and list damaged items as insurers prioritize claims from the hardest-hit east coast communities.
Residents are advised to take detailed photos, list damaged items, and record brand names, models, and serial numbers where possible to help insurers process claims efficiently, especially in the most affected areas.
Insurers have committed to prioritizing claims from the most impacted communities along the east coast, although the full extent of the damage is still being assessed.
ICA CEO Andrew Hall expressed concerns about the potential scale of claims and emphasized the need for collaboration between the government and insurers to address challenges like supply chain disruptions and limited temporary accommodation.
The ICA Board, comprising CEOs from major insurers, has been in continuous discussions with the federal government to ensure adequate customer support and efficient claims processing.
Policyholders are encouraged to review their coverage details with insurers to understand their protection against flood risks and potential gaps in coverage.
Insurers in southeast Queensland and northern New South Wales have imposed embargoes on new policies and modifications to existing policies due to the impact of ex-Tropical Cyclone Alfred, although some policies offer coverage for pending risks with a waiting period.
Federal Treasurer Jim Chalmers has warned of potential damage from the weather event and urged residents to take necessary precautions, with assurance from the government that discussions with insurance industry leaders are ongoing to ensure swift processing of claims.
