IAG provides update on Tropical Cyclone Marcia

Τετάρτη, 25 Φεβρουαρίου 2015 13:35

Insurance Australia Group Limited (IAG) businesses have received approximately 700 claims for damage, as of Sunday 22 February, in relation to Tropical Cyclone Marcia which crossed the Queensland coast north of Rockhampton on Friday 20 February.


The majority of claims have been received from Personal Insurance customers who hold policies under the NRMA Insurance, CGU, Lumley Insurance, WFI and Coles brands. Approximately 90 per cent of the claims received to date relate to property damage caused by heavy rain and high winds in Queensland and northern New South Wales.

IAG Managing Director and CEO, Mr Mike Wilkins, said that the Group’s Personal Insurance and Commercial Insurance businesses’ immediate priority is to help affected customers.

“We are focused on providing customers with the assistance they need during this particularly difficult time. We have mobilised our assessors and technical specialists to the affected regions and we encourage our customers to lodge their claims as quickly as possible.”

IAG has arranged for emergency repairs to homes and temporary accommodation for customers where required. Dedicated event teams and hotlines have been set up to help handle an expected increase in calls from customers.
The Group’s natural peril allowance for the financial year ending 30 June 2015 (FY15) is $700 million. The Group has a separate reinsurance cover for retained perils in FY15 which provides protection of $150 million in excess of $700 million.  Net natural peril claim costs in the six months to 31 December 2014 were $421 million.

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