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Damage bill expected to skyrocket as SEQ insurance claims flood in

Scott Emerson
Article image for Damage bill expected to skyrocket as SEQ insurance claims flood in

There are predictions the insurance bill for the huge clean-up effort in south-east Queensland will be in the hundreds of millions.

Already, there have been 15,000 insurance claims.

With rain still hitting parts of SEQ, it’s predicted that will rise sharply in the coming weeks.

CEO of the Australian Insurance Council, Andrew Hall, said the insurance bill “easily go into the hundreds of millions”.

“It’s still too early to count the cost, it’s still an unfolding event across a lot the regions including now down into the northern rivers in NSW, we are seeing records being broken in terms of river heights,” he told Scott Emerson.

“our thoughts are currently with the people of Lismore whose river has broken all previous records, and there’s a lot of rescues happening down there as well.

“It’s still too early, but we are starting to get claims come through, there’s around 15,000 clams that have been lodged with insurers so far but that number I expect it will climb dramatically as people get access to their properties in the next few days.”

He said more money should go towards prevention.

Press PLAY below to hear his advice for people impacted by the flooding

Image: Scott Emerson

Scott Emerson
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