Damage Bill From Monster Monsoon Soars Into Hundreds Of Millions

Thousands of claims made


Triple M Townsville

22 February 2019

Triple M Townsville

Article heading image for Damage Bill From Monster Monsoon Soars Into Hundreds Of Millions

The damage bill from the Big Wet is estimated at close to $900 million dollars.

Insurance Council of Australia releasing the figures, with around 21,515 claims made so far.

CEO Rob Whelan of Insurance Council of Australia has addressed the soaring bill.

"All claims lodged are being assessed on a case-by-case basis, taking into account the damage sustained and the terms and conditions of individual insurance policies.

 “So far 21,515 claims have been lodged with estimated insurance losses of $887 million," says Rob. 

To assist Townsville policyholders, the ICA is hosting two forums for householders and business owners affected by the recent monsoonal downpour and subsequent flood. 

The first forum is being held on Monday next week and another on March 25 to cover off on the recovery process for policyholders.

Register through www.disasters.org.au/fnq-forums or phone 1800 734 621.

 

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