Insurance Australia Group Claims Report on Sydney Storms

Insurance Australia Group Limited (IAG) has issued a bulletin noting that as of 11:00 a.m. today, “approximately 13,000 claims had been received as a result of the storm that hit Sydney last Sunday. Further lodgments are likely to be received in the coming days.”

IAG indicated that “at this stage, around 60 percent of claims appear to be for hail-damaged vehicles. The commercial insurance impact of the event is likely to be limited.”

The Group also noted that it’s “not yet in a position to provide a full estimate of the cost of the storm as claim processing continues.

“IAG Group companies NRMA Insurance and CGU are working to ensure customer claims are being dealt with as quickly as possible, setting up additional claim assessment centers and providing emergency payments and assistance.”

Source: Insurance Australia Group – www.iag.com