ICA – Insurers received over 8,000 claims from NSW flood in July

The Insurance Council of Australia (ICA) has announced that as of July 8, insurers had received 8,415 claims related to the extreme rain and flooding that hit New South Wales (NSW) this month.

The extreme rain and flooding, deemed a “significant event” by the ICA, resulted in an estimated insurance loss of $97.9 million as of July 8 and has impacted the large parts of Sydney, the Hunter, and mid-north coast. Of the claims received, 84% accounted for property, 14% for motor, and 2% for commercial lines of business.

The “significant event” declaration means:

• The ICA has commenced its claims data collection, analysis, and reporting processes in consultation with its members;
• ICA representatives will work with the government and agencies to understand the extreme weather event's impacts on the community and ensure affected residents receive assistance; and
• The ICA disaster hotline 1800-734-621 is activated to assist policyholders if they are uncertain of their insurance details or have general enquiries about the claims process.

Read more: ICA declares ‘significant event’ for more NSW flooding

The ICA encourages affected policyholders to contact their insurers as soon as possible to start the claims process, even if the full extent of the damage is unclear. However, it emphasised that safety must be their priority. Therefore, affected customers must:

• Only return to their property when emergency services give the go signal;
• Avoid doing anything risky;
• Avoid turning on the electricity until it has been inspected by an electrician if water has entered the property;
• Advise their insurer if their property has sustained roof damage. The insurer will then arrange emergency works to minimise any hazards and prevent further damage; and
• Not worry if they cannot find their insurance papers because insurers have electronic records and need only the policyholder's name and address.

In a previous statement, ICA CEO Andrew Hall offered assurances that insurers are well prepared to respond to extreme weather events. Most recently, HCF Australia (HCF) and RT health stated that they are committed to supporting their members with uncommon care.

Insurance Australia Group (IAG) – which backs NRMA Insurance (NRMA) and CGU – said it had received 1,233 claims across its brands from the event as of midday on July 5 and advised flood-impacted members to lodge their claims as quickly as possible to access immediate help. Meanwhile, PetSure announced that it has extended its emergency assistance to ensure pets' safety.