The heavy rain and hailstorms that battered Sydney’s north western suburbs and northern beaches have triggered thousands of insurance claims – mostly for damage to vehicles.
The Insurance Council of Australia (ICA) labelled the powerful storm a “catastrophe”, with insurers receiving around 17,500 claims across Sydney and estimated insured losses of $42 million.
The ICA also classified the recent New South Wales bushfires, which claimed at least 45 homes, a catastrophic event, prompting 1200 claims and totalling $28.5 million in insured losses.
ICA chief Rob Whelan says claims and losses from both events will likely rise further.
“Two hailstorms hitting within a few hours has left destruction across the city. Insurers received a surge in claims as the extent of the damage to vehicles, homes, and businesses became apparent,” he says.
An industry taskforce has been established to respond to any issues that may arise.
The ICA is also liaising with state and local governments, emergency services and other agencies to expedite the claims assessment and repair process.
The ICA also activated its disaster hotline – 1800 734 621 – which is aimed at assisting policyholders to identify their insurer and properly submit claims.
Australian insurance company Allianz are reportedly receiving as many as 80 claims per hour, with figures expected to climb.
“Claims figures are quite high with some property claims. However the majority of claims received have been motor related,” Allianz general manager Danny Adams says.
The insurer also activated an emergency response plan to assist in handling the influx of claims, erecting two hail assessment centres in Sydney and communicating with customers on how best to lodge claims.
While claims and damages from these events have been substantial, they don’t compare to the $421 million bill from Sydney’s Anzac Day hailstorm in 2015, or the $1.7 billion in losses from the 1999 hailstorm.
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