Australia's insurers log 3,000 claims post-Cyclone Alfred

ICA CEO said to expect “many more thousands of claims.”

Australia’s insurers have so far received almost 3,000 claims from Tropical Cyclone Alfred and subsequent storms since 28 February, the Insurance Council of Australia (ICA) reported.

Significantly, the council has declared an Insurance Catastrophe for southeast Queensland and northern New South Wales.

“It’s too early to understand the extent of the damage to property in affected areas and to estimate the insurance damage bill, however insurers have received around 3,000 claims in the past two days and expect many more thousands of claims as residents return to their homes and understand the full extent of the damage,” Andrew Hall, CEO of the ICA said in a press release.

Although Tropical Cyclone Alfred weakened before making landfall, the region continues to experience widespread power outages, heavy rain, flooding, and falling debris. 

The areas most affected include the Gold Coast, Brisbane, Hervey Bay, and the Northern Rivers, but the declaration covers all claims related to the event since 28 February. 

The catastrophe declaration enables insurers to prioritise claims from affected policyholders and mobilise disaster response specialists. 

Claims are being triaged to ensure urgent assistance reaches the worst-affected property owners. 

ICA representatives are coordinating with local agencies and services to support policyholders once emergency services confirm it is safe, it said in a press release.

An industry taskforce has been established to address issues arising from the catastrophe.