Claims from Australian storms & TC Jasper rise to 72,410. Suncorp reports 28,000

Insurance claims from the severe storms that affected eastern Australia through the Christmas and New Year period, as well as from the remnants of tropical cyclone Jasper, have risen to 72,410 according to the Insurance Council.

The latest data update came this morning, but information released by Australian primary insurer Suncorp suggests it has further to rise.

Back on January 3rd, the Insurance Council of Australia (ICA) said severe weather that had affected the eastern side of Australia since December 23rd, with Queensland, New South Wales and Victoria particularly affected, had driven 38,000 claims.

That catastrophe event, Cat 233, eas also extended to cover the period to include losses related to storms, rain and flooding up to January 3rd.

Now, as of this morning, the ICA says that claims have reached 64,937 from this severe weather and flood event.

Meanwhile, the number of claims caused by severe weather & flooding in North Queensland after tropical cyclone Jasper have reached 7,473.

For a total number of severe weather and flood claims of 72,410 at this stage.

That figure is expected to rise further and when you look at the share Suncorp has reported this week, it suggests a growing toll for the major Australian carriers.

Suncorp Group CEO Steve Johnston said, “From a cyclone, flooding and storms that have impacted the east coast since November, our teams are currently dealing with nearly 28,000 total insurance claims across not only Queensland but New South Wales and Victoria as well, including more than 20,000 claims for homes.

“Queensland has been the hardest hit with more than 17,500 total claims, including more than 13,900 for homes. This includes a total of more than 2,000 claims in the Far North and more than 14,000 total claims in the South East.”

IAG had reported approximately 17,000 insurance claims from these storms and weather events by January 4th, a figure that is likely to have risen considerably.

Suncorp highlighted its reinsurance protection when it reported its claims at the start of this month, but at this stage it remains uncertain whether any excess-of-loss layers could attach.