The latest figures for the insurance industry shows that claims numbers and estimated insurable value of losses as a result of the Queensland floods are rising says Insurance Council of Australia (ICA).

As of January 30, ICA members have received 38,460 claims with an estimatedinsurable value of $1.51 billion. These figures have been reported through the Insurance Taskforce.

In a nutshell, the statistics include claims received for:

  • 46 percent of claims are for Residential Property
  • 25 percent of claims are for Residential Contents
  • 10 percent of claims are for Commercial Property
  • 11 percent of claims are for Commercial and Domestic Vehicles
  • 8 percent of claims are for other classes including Business Interruption

By region, the claims are spread on the following basis:

  • 53 percent of all claims lodged are from Brisbane
  • 17 percent of all claims lodged are from Toowoomba & Lockyer Valley
  • 30 percent of all claims lodged are from Regional QLD

Authorities have already asked the insurance industry to be more flexible and compassionate with its customers in the light of the devastating losses that occurred in the state.

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