Brisbane Storm Generates Over 11,000 Claims
The Insurance Council of Australia has declared a Significant Event for the hailstorm that impacted the wider Brisbane region.
The ICA's preliminary catastrophe processes have been activated, assisting the ICA and insurers to assess the insurance impact of the hail, heavy rain, and strong winds.
Significant Event Declaration
Under a Significant Event declaration, the ICA has declared this event — to be known as SE 254 — ahead of what is expected to be a challenging few weeks of severe storm activity along the east coast.
- The event may be escalated to an Insurance Catastrophe if there is a significant increase in claim numbers or complexity.
- The geographical spread of this event is extended or in consultation with insurers.
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Author's summary: Brisbane storm generates massive claims.