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TIO, part of the global Allianz Group, has confirmed that the NT insurer is not even halfway through the claims related to Cyclone Marcus, with 1,900 claims yet to be completed.
The category 2 tropical cyclone tore through Darwin in March, bringing flooding and winds in excess of 130 km/h.
“TIO received almost 3,600 claims relating to Cyclone Marcus, of which around 1,700 claims have already been completed,” Madden told News Corp Australia. “In some instances repairs have been delayed due to other maintenance issues or other policy obligations, which need to be first addressed by the owner before we can commence repairs. It is certainly not our policy to leave any property in an unsafe condition and we are unaware of any that are.”
Insurance Council of Australia's Campbell Fuller said he was not aware of any significant issues relating to the weather event.
Madden said TIO was expecting to complete majority of the claims within “the coming months,” News Corp Australia reported.
