Around this time of year we typically experience Halloween Hailstorms which are often accompanied by thunderstorms and often, hail.
Last year’s hailstorm caused a massive $1.08 billion in losses and claims triggered by the hailstorms are currently sitting at almost 90% resolved, with new claims continuing to flow in to insurers on the anniversary of last year’s Halloween Hailstorms.
Finalising claims has been challenging at times with a shortage of tradesman, timber and building essentials and COVID-19 border restrictions.
According to the Insurance Council of Australia (ICA) –
“ more than 44,000 claims for storm and hail damage from the October 31 extreme weather in Queensland have been lodged, with about 1000 submitted in the past eight weeks.”
With the Bureau of Meteorology predicting widespread flooding and tropical cyclones in the months to come, Insurers are racing against time to catchup on processing current claims before there are more to come!