Debbie insurance claims hit $897m

MOST of the insurance claims stemming from Cyclone Debbie have been lodged and paid out.

The category four system struck Airlie Beach on March 28, leading to mass evacuations and causing widespread damage across Bowen, Mackay, the Whitsundays, Rockhampton, Logan, the Gold Coast and down to Lismore.

Insured losses across Queensland and NSW have hit $897 million.

Insurers have received 56,135 claims with about 90% coming from Queenslanders.

Insurance Council of Australia communications manager Campbell Fuller said he expected a few more claims to trickle in.

“Most of the claims have already been dealt with,” Mr Fuller said.

“Most of it has been for personal, home and contents, cars and boats. A proportion of the claims will be for damage to business property and things like business interruption.

“Insurers are well-advanced on where you would expect them to be – they really have their foot to the floor trying to get the repairs done.”

Mr Fuller said shortage of supplies and builders and difficulties relating to remote areas would delay some payouts.

He said it was impossible to predict if Debbie would create increased premiums.

“With a one-off event like this it is unlikely to have an impact on premiums because most insurers make provisions for cyclones and it was forecast that this was going to be a nasty cyclone year,” he said.

You can read amazing stories of hope and inspiration in our special publication, Defying Debbie.

Featuring heroes who helped overcome adversity in March and April, this gloss 132-page book costs just $7.50 and all of the proceeds of the sale will help our regions rebuild.