, Australia
/Erik Witsoe from Unsplash

Claims soar to 19,932 after Victoria thunderstorm – ICA

About 85% of the claims are related to home and contents damage.

The recent thunderstorm which struck Victoria, Australia on Valentine’s Day was estimated to cost $104m, reflecting the extensive damage incurred by properties and possessions.

Claims also rose to 19,932, indicating the widespread damage caused by the event, the Insurance Council of Australia (ICA) said.

“These storms caused extensive damage across Victoria and show us just how quickly and unexpectedly extreme weather events can occur.” said Andrew Hall, CEO of the ICA.

ALSO READ: ICA engages treasury on proposed financial advice reforms

Approximately 85% of the claims are related to home and contents damage, highlighting the significant impact of heavy rainfall, flooding, and strong winds experienced across the region. 

Around 9,170 claims for damaged contents, totalling $10m, have been lodged, with nearly 30% of these claims already closed. 

Recognising the widespread impact of the storm, the ICA declared it a 'Significant Event,' triggering a heightened level of support for customers dealing with storm damage and power outages.

Follow the link for more news on

Join Insurance Asia community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

APAC emerges as leader in renewables insurance
RE is projected to account for 45% of global electricity generation by 2030.
Insurance
IFRC-DREF triggers insurance payout after disaster relief demands exceed threshold
The policy provides up to $16.92m in coverage.The International Federation of Red Cross and Red Crescent Societies' Disaster Response Emergency Fund (IFRC-DREF) has triggered its first-ever insurance payout after disaster relief demands exceeded its deductible threshold. 
Insurance