Insurers face claims after city storms
INSURERS were bracing for claims yesterday after a ferocious storm swept over Sydney on Tuesday night.
INSURANCE: Insurers were bracing for claims yesterday after a ferocious storm swept over Sydney on Tuesday night.
An IAG spokesman said it was too early to get a total but that “the majority of the claims are home claims due to the storm, with minimal claims involving hail damage.’’
The Insurance Council of Australia said that there had not been a significant increase in claims overall.
Insurers now offer flood damage cover in 92 per cent of home and contents policies offered in Australia, making opt-out exceptions for owners of properties in known flood-prone areas.
According to the Bureau of Meteorology, several Sydney suburbs set October daily rainfall records.
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