Insurer reveals NSW storm update

Insurer reveals NSW storm update | Insurance Business

Insurer reveals NSW storm update
Club Marine has released updated figures on the claims it has seen concerning the New South Wales storms which hit at the end of April.

Fifty-six boats have been salvaged in the storm-ravaged area thus far with 16 total loss claims resolved.

The insurer paid out more than $1 million in the week following the storm, which was declared a catastrophe by the ICA, and Club Marine CEO Simon McLean said this greatly aided customers.

“We believe this is the level of service our members expect,” McLean said.
“We’re very proud of our staff’s swift assistance to our members in their time of need.
“Our members’ needs are our priority and we strive to assist them swiftly and competently in their time of need.
“Our expert claims officers and specialist assessors have considerable expertise in natural disaster response and can help members get through the claims process as simply as possible.”
McLean praised his staff for their speedy response to all claims relating to the storm whilst making sure that the rest of the business stayed afloat.
“With the unforeseen severity of the recent storms in NSW and the extent of the personal and material loss caused by the extreme winds and rainfall, I’m proud of how our staff immediately gave top priority to taking care of members’ damaged boats – even while the storm raged – at the same time ensuring unrelated claims continued smoothly and with minimal disruption to our other services.”
Club Marine’s update comes as A.M Best warned that the recent spate of natural disasters to strike Australia could have a ‘material’ effect on major insurers in the country.