Suncorp calms investors on flood fallout
Suncorp Group Ltd has reassured investors it has a reinsurance program to deal with the fallout from Queensland's flood.
"Suncorp makes allowances for natural hazard claims and has a comprehensive reinsurance program in place," the company told investors.
The group said its insurance brands - which include Suncorp, AAMI, Apia, GIO and Vero - have put the additional measures in place to help process claims as quickly as possible.
Suncorp has increased the number of claims staff, assessors and other support staff helping customers affected by widespread flooding in Queensland.
As of December 31, Suncorp has received approximately 1,450 claims across the state since Christmas Eve. The company said this is expected to increase as waters recede and customers return to their homes.
"Customers are encouraged to lodge their claims as soon as possible," it said.
"A cost estimate for the event will be provided when claims in affected areas have been assessed."
The floods in Queensland have affected 200,000 people and cover an area larger than France and Germany combined.