The Insurance Council of Australia has declared a catastrophe for storm-affected parts of NSW, in particular the Central Coast, Hunter, Greater Sydney Metropolitan and Illawarra regions.
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As of 7am, insurance companies had received more than 19,500 claims, with losses estimated at $129 million.
Insurance Council chief executive Rob Whelan said insurance companies had declared a catastrophe to enable industry resources to be fully harnessed to assist affected communities.
"Though most claims so far have been for low-level property damage, mainly from water and wind damage to homes and damage to cars, insurers are also receiving claims for severe damage to houses and roofs," he said.
"Claims are also being received for stormwater inundation.
"I expect these numbers will rise quickly as home owners and businesses assess the damage to their properties and lodge claims with their insurer or through their insurance broker.”
Mr Whelan said the catastrophe declaration meant the ICA had:
- Established a taskforce of insurers to identify and address issues that arise
- Activated its disaster hotline – 1800 734 621 – to help affected residents who are not sure which insurer they are with, or who have general inquiries about the claims process (it is NOT a claims hotline)
- Activated its disaster team to assist affected policyholders
Related: Storm continues to batter Sydney