The Insurance Council of Australia (ICA) has declared the aftermath of ex-Tropical Cyclone Jasper an “insurance catastrophe.”
The catastrophe declaration is made to activate services and support for affected homeowners and businesses, reassuring them that their insurer is ready to help.
“Insurers are here to help Far North Queensland and stand ready to help impacted policyholders through this challenging time,” said ICA COO Kylie Macfarlane. “The clean-up has begun but the full impact is still unfolding.”
According to an ICA media release, under the declaration, insurers will prioritise claims from affected policyholders and direct urgent assistance to the worst-affected property owners. Insurers will also deploy disaster response specialists to aid affected customers with claims and assessments as soon as emergency services indicate it is safe.
Meanwhile, the release said the ICA will mobilise representatives to collaborate with local agencies and services to assist affected policyholders as soon as emergency services deem it safe.
An industry taskforce has also been established to identify and address issues arising from the event.
“Insurers are well-prepared to respond, regardless of the Christmas break, and are on the ground to support policyholders get back on their feet following this devastating event,” said Macfarlane.
The release said over 3,800 claims are already lodged across affected areas from Cape York Peninsula to Mackay. However, the ICA said insurers are taking decisive steps to prioritise the recovery of their customers. The release said disaster response teams, including assessors and claims specialists, are on the ground to provide assistance.
In a media release, AIA Australia (AIA), the life and health insurer, said that it is offering assistance packages to eligible policyholders in the affected areas.
Life insurance policyholders qualifying for the Australian Government Disaster Recovery Payment will receive a premium waiver of up to six months, said the release.
Health insurance members, depending on eligibility, can choose either a three-month premium waiver or a 12-month membership suspension.
The release said voluntary emergency services workers in the affected regions who are AIA Health members are entitled to a one-month premium waiver.
Recognising the mental health challenges that often accompany natural disasters, AIA is providing disaster recovery programs to support customers affected by the floods in their recovery. The release said frontline staff are equipped with information on government and community support services in impacted areas.
“At AIA, our purpose is to make a difference in people's lives,” said AIA Australia CEO Damien Mu. “Sadly, the recent floods caused by Cyclone Jasper have had a devastating impact on people living in the affected areas, destroying homes and livelihoods.”
The CEO acknowledged that people impacted by the flooding can face “a long road to recovery.”
He said once customers' immediate needs are met, “we will be there to support them with their health and wellbeing.”
According to another media release, Suncorp Group (Suncorp) is actively engaged in the recovery efforts following ex-Tropical Cyclone Jasper, with local tradies on the ground assisting customers in the cleanup process.
The release said Suncorp has received approximately 900 claims, including over 650 for homes, since December 10.
Alli Smith, executive general manager of home claims customers at Suncorp, emphasised the availability of support teams, assessors, and builders – ready for deployment once deemed safe.
“In the meantime, our claims contact centres are available 24/7 to help impacted customers to lodge claims, arrange emergency repairs, and organise temporary accommodation for customers with severe damage to their homes,” said Smith. “[They can also] provide cash payments to make emergency purchases.”
She said her insurer’s claims teams are also making proactive welfare calls, sending emails and SMSs with information on the claims process.
“We are also warning customers of scams that can often happen after severe weather events,” said Smith.
The release said Suncorp Bank's branches in Cairns Central, Smithfield and Innisfail remain open to provide support for customers to lodge insurance claims. The bank has activated its disaster relief package for impacted personal and business customers, urging them to contact 13 11 55 to discuss available options.
In other news, independent credit risk research provider S&P Global Ratings Australia (S&P) claimed that insurers are in stable position to address associated rising costs in the aftermath of Ex-Tropical Cyclone Jasper.
