As communities in southeast Queensland and northern New South Wales face widespread flooding, power outages, and property damage from Ex-Tropical Cyclone Alfred, several insurers like Zurich, Allianz, MetLife, and PetSure are offering financial relief, fast-tracked claims processing, and expanded coverage to help policyholders recover.
The Insurance Council of Australia (ICA) has officially declared the event an Insurance Catastrophe, with insurers expecting claim numbers to rise as more customers assess the damage.
Zurich Financial Services Australia is offering emergency and interim payments for general insurance customers needing immediate financial assistance. The insurer has also expedited claims processing for property and motor insurance policyholders.
“Our priority is ensuring the safety of the community and our customers. As many continue to face the threat of flooding and others are now grappling with the aftermath, Zurich is here to ensure customers receive the immediate support they need,” Zurich chief claims officer Matt Paterson said.
Zurich Life and OnePath Life customers affected by serious illness or accidents covered by their policies can lodge claims. The insurer is also offering financial assistance to customers directly impacted or those working in emergency response roles.
Allianz Australia has increased its claims and customer support teams to handle the surge in cases, with 1,330 claims lodged as of March 10, including 1,272 home claims, 52 motor claims, and six commercial claims.
“Allianz is very well prepared for this event and has been assisting customers across the weekend,” said Scott Cooper, national manager for disaster and recovery at Allianz.
To assist older customers, Allianz has set up a dedicated phone line for those over 75. The insurer’s disaster and recovery team is also preparing to provide in-person support as soon as conditions allow.
MetLife Australia is offering a three-month premium waiver for customers with MetLife Protect policies in affected areas. The waiver applies from March 6 to June 6, and aims to ease financial pressure on those dealing with storm damage and disruption.
“We know that this is an emotionally and financially challenging time for those impacted. We hope this premium waiver eases some of the burden, reassuring our customers that their life insurance cover remains in place when they need it most,” said Meray El-Khoury, MetLife chief insurance officer.
Advisers can assist clients in applying for the premium waiver.
PetSure has introduced special measures to support pet owners affected by the cyclone. Until April 30, the insurer will cover pet health complications resulting from the disaster, regardless of policy type.
The company is also reimbursing the full cost of emergency boarding for pets whose owners have been displaced or evacuated. Waiting periods and exclusions are temporarily waived, with claims processed within three to five business days if all necessary information is provided.
