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The three catastrophic events that lashed across Australia over the 2018-19 summer have resulted in more than $2.2 billion in insurance losses, according to the Insurance Council of Australia.
The figure included the $1.04 billion damage bill related to the Townsville flood event between Jan. 26 and Feb. 10, the $1.19 billion in insurance losses related to the NSW hailstorm in late December, and the $20 billion damage bill related to the Bunyip bushfires in eastern Victoria in late February.
“Insurers are working around the clock in three states to support customers affected by extreme weather catastrophes,” said Campbell Fuller, ICA general manager of communications and media relations, at an insurance policyholder forum in Townsville. “They are also standing by to help policyholders in Queensland, the Northern Territory and north-western WA who have suffered losses caused by cyclones Trevor and Veronica.”
The Townsville event provided an overview of progress being made in handling and resolving claims, including discussions on hydrology reports and on scopes of works for repairs.
