Extreme rainfall in late February 2022 resulted in devastating floods impacting large areas of south-east Queensland and New South Wales. According to the Insurance Council of Australia, over 163,850 claims have been received, with Fitch Ratings estimating the event to total $2.45 billion in claims.
Insurance industry sets up in flood-affected areas
Insurers have established local operations in affected areas to assist their customers more effectively. Some residents require further help with their insurance claim as they may be unsure where they stand. The National Insurance Brokers Association (NIBA) launched a claims support initiative, whereby members of NIBA including Bentleys Insurance Services, are offering to advise and assist victims of the recent floods with their insurance claims.
The aim of this initiative is to support members of the community who have suffered loss as a result of the recent floods and require assistance with their insurance claim, but do not currently have an insurance broker. The support and assistance of participating brokers will be provided as a community service on a pro bono basis. Victims of the recent floods in NSW and QLD can access this service through NIBA’s Need a Broker hotline (1 300 531 073) or contact Bentleys Insurance directly on 03 9018 4666 or email [email protected]
To assist further, ASIC has streamlined the process for emergency payments under $5,000 providing much needed relief for many affected residents. The Queensland government established their largest disaster assistance package of $771 million to fast-track clean-up efforts and the NSW government announced additional support with grants up to $1 million for businesses that have been affected.
If you have any questions regarding this article or to discuss your business insurance needs or policy wording, contact your Bentleys Advisor or email us at [email protected] or call +61 3 9018 4666.
The information in this website is general information only and may not be suitable for your individual circumstances. You should obtain professional advice and consider the information in the relevant product disclosure statement or policy wording before deciding to purchase a policy.
Bentleys Insurance Services (Vic) Pty Ltd ABN 19 655 057 408 is an Authorised Representative CAR 295697 of Insurance House Pty Ltd ABN 33 006 500 072 AFSL 240954.