Hail storm statistics, page-4

First 4 Last

Share
Profile

Follow
AlReady2

47 Posts.

3

22/01/20

11:47

Post #: 42510627
Share

Originally posted by Moods63: ↑

Tuesday January 21, 2020
Hail storms declared Catastrophe
by Insurance Council
The Insurance Council of Australia (ICA) has declared a Catastrophe for damage caused by
hail storms that struck eastern Melbourne, the Australian Capital Territory and parts of New
South Wales on Sunday and Monday.
Insurers have received more than 29,000 claims (56 per cent from the ACT, 34 per cent from
Victoria and 10 per cent from NSW). Losses are estimated at $320 million. About two-thirds
of claims are for damage to motor vehicles.
ICA Head of Risk and Operations Karl Sullivan said insurers would prioritise claims from hailaffected areas and were already advising customers about assessments and repairs.
He expected thousands of additional claims would be lodged this week as property owners
inspected damage and contacted their insurers.
“Property owners should contact their insurer before commissioning any repairs to their
homes or business to ensure these works are paid for under their policy,” he said.
Under the Catastrophe declaration the ICA has:
• Activated its disaster hotline – 1800 734 621 – to assist customers who have general
inquiries about the claims process
• Established an industry taskforce to address and identify issues that arise, and work
directly with emergency services, agencies and the government

https://www.insurancecouncil.com.au/assets/media_release/210120%20Hail%20storms%20declared%20Catastrophe%20by%20Insurance%20Council.pdf

Expand

I am fully loaded. My long term target is 15-20% in line with Goldman Sachs and other estimates, I don't care if it falls 5-10% short term. Actually, considering all these weather surprises, i think the gain can be much much more in reality.

AMA Price at posting: 99.5¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply