The hailstorms that devastated South East Queensland on October 31, also known as the ‘SE Queensland Halloween hailstorms,’ have resulted in AU$1,300 million insured losses, according to PERILS' second industry loss estimate.
On October 31, severe thunderstorms hit SE Queensland and the surrounding areas of Brisbane, the Gold Coast, and the Sunshine Coast. The corridor from Amberley through to the northern suburbs of Logan near Brisbane took the most significant hit, recording hail up to 14cm in diameter. The Gympie area also recorded giant hail up to 7cm in diameter.
The second estimate is based on loss data collected from the Australian insurance market. It compares to the initial loss estimate of AU$1,231 million released by PERILS on December 11, which included insured property and motor market loss.
PERILS will release an updated property market loss estimate from the Halloween hailstorms on May 03. It will include a detailed footprint breaking down the industry loss into postcode area and lines of business.
