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Insurance Australia Group Limited (ASX:IAG) says it’s received 24,000 claims relating to the Christmas hailstorms in Victoria.
With customers still returning from holidays, claims are coming in more slowly than IAG would expect at other times of the year but the group says it’s expecting total claims to cost between $180 million and $200 million.
Chief executive Mike Wilkins says the group’s already assessing claims and has opened a number of temporary hail assessment centres to ensure motor claims and specialist hail repairs are completed quickly.
IAG posted a net profit of $338 million in fiscal 2011.
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