Third ICA forum set for flood-affected Townsville policyholders

Third ICA forum set for flood-affected Townsville policyholders | Insurance Business

Third ICA forum set for flood-affected Townsville policyholders

The Insurance Council of Australia (ICA) will host its third forum in Townsville on May 07 from 6 to 9 pm to provide claims guidance for policyholders affected by the February catastrophic floods.

Read more: ICA announces insurance forums for Townsville flood victims

The event will include one-on-one consultations for policyholders and their insurers to enable discussion of their individual claim and specific concerns, and will also be attended by Queensland Legal Aid and Australian Financial Complaints Authority representatives.

“The consultations and forum are an opportunity for customers to speak to insurance representatives about their individual circumstances,” said ICA CEO Rob Whelan. “Many attendees may want a better understanding of rebuilding timeframes and agreement of scopes of work. The insurance industry knows the impact of the monsoon on Townsville has been difficult for many households and businesses, and insurers are focusing on how to help all customers, including those who were underinsured or may have elected not to buy flood cover.”

To date, 27,355 claims have been lodged with insurers, with losses estimated at $1.132 billion. More than 25% of 1,518 critical home building claims have been completed, and at least $327 million has been paid by insurers to cover a broad range of repairs, services, emergency accommodation, and replacement items.