Flood claims approach 100,000 as weather worsens again

8 March 2022

Claims numbers from the east coast flood catastrophe continue to spiral as dozens of evacuation orders remain across NSW, and the industry looks to fast-track staff from overseas.

The Insurance Council of Australia (ICA) says insurers have now received 96,844 claims, up 12% on yesterday, with 69% from Queensland and 31% from NSW.

NSW claims are rising faster however, and there’s been more torrential rainfall today in parts of Sydney, with 2000 people in Manly ordered to evacuate as Manly Dam began to spill.

Based on previous flood events the estimated current cost of claims is now $1.45 billion.

ICA has met with Federal authorities to expedite visa processing for key insurance recovery personnel being deployed to Australia from overseas.

“All visa applications provided have been processed and insurers are grateful for the support received by the Department of Home Affairs and Immigration Minister Alex Hawke,” ICA said.

CEO Andrew Hall is in Lismore today meeting with local MPs, stakeholders and insurers. The NSW city was hit by record-breaking floods on February 28.

“As we expected we are now seeing an influx of claims from NSW,” Mr Hall said.

“Insurers are prioritising those customers whose situation is the most severe to support them getting back on their feet as soon as possible.

“This means it may take a few weeks for insurers to start the assessment process for less severe claims, but those customers can be assured their insurer is there to support them.

“Insurers rely on a network of specialists from across the country and around the world who are deployed when and where they are needed.

“I want to thank Immigration Minister Alex Hawke, his office, and department for their support in quickly processing a number of visa applications, which means those specialists will be on ground shortly assisting communities in their recovery.”