3 March 2022
Marsh is supporting our clients and communities affected by the devastating flooding across NSW and South East QLD resulting in property damage, personal injury and the tragic loss of life.
Forecasts project that the rain could worsen and it is likely to be weeks before floodwaters recede and there can be a reasonable understanding of the full extent of the damage.
The Insurance Council of Australia (ICA) has reported that as at 2 March, insurers have received 48,220 claims related to the flooding in South-East Queensland and the New South Wales coast – a 53% increase on the previous day’s claims count.
The ICA reports that 37,807 of the claims are from Queensland. New South Wales figures are expected to increase in coming days as more policyholders return to their homes and businesses.
Eight-four per cent of total claims relate to property, with the remainder motor vehicle. Insurers do not have an estimate of claims costs at this time.
“Events of this nature impact businesses and the broader community right across Australia. It is a crucial time - the Marsh team is here to help, support, and assist claims and recovery.”
Catherine Osborne, Chief Claims Officer, Marsh Pacific.
Across Marsh, we have mobilised to support our many clients affected by interruption and loss, helping the road to recovery. Our claims teams across Australia are already assisting clients, and we also have our international colleagues ready to assist to ensure we are providing the best and most timely support to clients in need.
The vast majority of policies will cover claims preparation costs, including the services of an Independent Claims Consultant: An extra hand to advise, quantify, prepare and support timely outcomes.
Download our helpful guide for storm and flood damage claims including:
Your broker can help you understand your options around the Claims Process and facilitate access to an independent Claims Consultant.
Contact Marsh or your broker directly.