Over the last week of January 2019 and the first week of February, torrential rainfalls over far North Queensland caused widespread flooding. The Insurance Council of Australia declared a catastrophe event on February 2 and commenced coordinating industry activity to assist in the recovery. The insurance industry’s declaration covers damage that occurred between 24/1/19 and 10/2/19 in 79 postcodes. See more
CAT185 - Sydney Hail storm
On the evening of 20 December 2018, a series of severe storms brought significant hail to the greater Sydney region. The worst impacted suburb was Berowra, although most metro local government areas were impacted to some degree. Majority of claims are for motor vehicle damage, however significant property damage has also been experienced. See more
If your home or building has been damaged, your claim may be settled either by your insurer appointing a builder to conduct the repair or your insurer offering you a cash settlement. Before a decision is made, here is the key information you should know.
When major damage occurs to a building and an insurance claim is lodged, one of the most important steps (usually necessary) is the development of a Scope of Works (SoW). This can also be one of the most challenging steps for policyholders and their insurers to navigate quickly, before commencing repair
It is twice as expensive to insure in parts of Australia’s north, compared to the south. Insurers have never shied away from this fact, or the factors that cause it. Discussions usually focus only on the risks but that’s only part of the story.
The Insurance Council Of Australia is often told that insurers should fund mitigation to protect communities. After all, the argument goes, they are the prime beneficiary of damage being prevented. Is this really the case?