ICA reports $176m in insured damages from April NSW storms

The Insurance Council of Australia (ICA) has reported that the storms in New South Wales from April 3rd to 8th caused $176 million in insured damages, with over 95% attributed to property damage.

These storms significantly impacted the Hawkesbury-Nepean and Illawarra regions, prompting a total of 14,781 claims, with 13,959 concerning home buildings and contents. The damage was mainly caused by strong winds and heavy rainfall, leading to overflowing gutters and flash flooding.

An additional 1,737 claims were related to motor vehicle damage and 822 for commercial property.

Recognising the magnitude of the April storm, the ICA labelled it a ‘significant event.’ This designation prompted insurers to accelerate their response, initiating claims data collection, analysis, and reporting processes with members. It also facilitated coordination efforts with government and emergency services.

Insurers have been actively involved in assisting impacted communities and have already distributed $10 million in payouts to affected customers.

Australia has now experienced three extreme weather events since Christmas, culminating in a staggering $1.6 billion in insured damages across Queensland, New South Wales, and Victoria.

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