29 June 2017

Cyclone Debbie losses approach $1 billion

Insured losses from Tropical Cyclone Debbie have almost reached $1 billion just days before the Insurance Council of Australia (ICA) begins a series of community forums in North Queensland.

As of June 28, insurers had received more than 58,000 claims stretching from North Queensland to northern New South Wales, with a value of $988 million. More than 80 per cent of claims were for damage to homes or home contents.

ICA General Manager of Communications and Media Relations Campbell Fuller said the community forums would provide an opportunity for householders and business owners in cyclone and flood-prone regions of North Queensland to learn more about their insurance.

The forums, which have been promoted through advertisements in local print, radio, online and social media, and via local councils and MPs, start in Cairns on July 3 and finish in Rockhampton on July 11. Attendees should register at www.disasters.org.au/events.

“The forums will explore how communities are affected by extreme weather such as floods and cyclones and how this impacts on insurance,” Mr Fuller said.

“Insurance Council disaster specialists will talk about the extent of the natural hazards in each community, and how mitigation could lessen the risks – and help to lower insurance premiums. The ICA will tackle some of the most common myths about insurance, and attendees will be able to ask questions and speak one-on-one to an insurance expert.”

Topics to be covered include:

  • How does insurance work?
  • Is insurance available to everyone?
  • How do cyclones and floods affect my premiums?
  • What can be done to lower premiums?

The forums will be held at:

  • Cairns – Monday July 3, 6.15-9pm
  • Innisfail – Tuesday July 4, 6-9pm
  • Ingham – Wednesday July 5, 6-9pm
  • Townsville – Thursday July 6, 6-9pm
  • Proserpine – Friday July 7, 6-9pm
  • Mackay – Monday July 10, 6-9pm
  • Rockhampton – Tuesday July 11, 6-9pm

Entry is free. To register, visit www.disasters.org.au/events.

-ENDS-


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