Insurance industry representatives have provided the Federal Government with an update on actions taken to date to support impacted policyholders and communities, including the provision of emergency accommodation and financial assistance in the wake of the unprecedented and devastating bushfires across the country.
The industry was represented by the Insurance Council and by chief executives and senior staff from major insurers including IAG, Suncorp. QBE, Allianz, Zurich, Commonwealth Bank and Westpac.
Since September 2019, around 8985 bushfire related insurance claims have been lodged from New South Wales, Victoria, Queensland
ICA CEO Rob Whelan said, “The industry was heartened by the Treasurer’s understanding of the issues, and welcomed in principle the Commonwealth’s $2 billion commitment towards recovery efforts.
“I discussed ways in which these funds might assist all property owners and communities. The centralised and coordinated property clean-up that followed the Black Saturday bushfires in 2009 was raised as effective and efficient and improved outcomes for property owners.”
Treasurer, Josh Frydenberg has said that, “The Government will continue to work with the insurance industry to support those devastated by the fires.”
The Insurance Council is working directly with the States and emergency services and is operating a 24-hour hotline, 1800 734 621, so that anyone impacted by the fires can access information about claims and recovery.