ICA releases claims update for Townsville catastrophe

The catastrophic floods that swept across Townsville has resulted in 21, 515 claims, with the estimated insurance losses of $887 million, according to the Insurance Council of Australia’s latest figures.

“This represents 19,614 residential claims and 1,901 commercial claims,” said Rob Whelan, ICA CEO. “All claims lodged are being assessed on a case-by-case basis, taking into account the damage sustained and the terms and conditions of individual insurance policies.”

To assist flood-impacted Townsville householders and business owners with their insurance claims, ICA will be hosting two forums – one on Feb. 25, the other on March 25.

The events will cover key aspects of the recovery process for policyholders, including claims management and rebuilding process, and will provide participants the opportunity to talk face-to-face with insurance company representatives and ICA disaster-recovery experts.

Registration is essential. To register, visit www.disasters.org.au/fnq-forums or call 1800 734 621.

Source: [ https://www.insurancebusinessmag.com/au/news/breaking-news/ica-releases-claims-update-for-townsville-catastrophe-159773.aspx ]