30 January 2011
Insurable Losses Increase in QLD
The Insurance Council of Australia (ICA) today released updated figures for the general insurance industry detailing claims numbers and the estimated insurable value of losses arising from the Queensland floods.
As at 30 January 2011, members of the ICA have received 38,460 claims with an estimated insurable value of $1.51 billion. These figures have been reported through the Insurance Taskforce.
The statistics at a glance include claims received for:
• 46% of claims are for Residential Property
• 25% of claims are for Residential Contents
• 10% of claims are for Commercial Property
• 11% of claims are for Commercial and Domestic Vehicles
• 8% of claims are for other classes including Business Interruption
By region, the claims are spread on the following basis:
• 53% of all claims lodged are from Brisbane
• 17% of all claims lodged are from Toowoomba & Lockyer Valley
• 30% of all claims lodged are from Regional QLD
The general insurance industry continues to work closely and compassionately with its customers to ensure a speedy claims assessment process.