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Insurers Processing $1.49B in Claims in Queensland Flooding

Source: Herald Sun

Posted on 31 Jan 2011

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Insurers are processing $1.49 billion ($1.51 billion Australian) worth of claims from victims who suffered property and business losses in the Queensland, Australia floods. As of now, 38,460 individual claims have been lodged with insurance companies, with claims from flood-affected householders and businesses in Victoria are still being calculated.

The Queensland figures, released by the Insurance Council of Australia yesterday, show 53 percent of all claims lodged until Saturday were made by those living in Brisbane. Another 30 per ent came from regional Queensland, while 17 percent of all claims came from Toowoomba and the Lockyer Valley, two of the worst hit areas. At a glance, the figures show that:

* 46 percent of all the claims involve flood damage to houses
* 25 percent of claims are for house contents
* 10 percent involve commercial property