Storm claims total hits $1.5b

More than $1.55 billion in insurance losses has been tallied from the storms that hit eastern Australia in April and May this year.

Insurers have received 120,000 claims as a result of the storms that struck NSW in April, including Central Coast, Hunter, Illawarra and Greater Sydney regions. Insurance losses total $801.7 million to date, with a majority of claims being domestic.

Insurers are still handling the 14,239 claims resulting from the Anzac Day hailstorms, with losses reaching $389.8 million. Most of these claims were due to industrial property damage.

The storms that hit south-east Queensland and northern NSW between 30 April and 4 May caused $360.2 million in losses as a result of 27, 825 claims.

Insurance companies and brokers continue to process new claims from policyholders.

ICA-declared catastrophes have claimed more than $3.45 billion in insurance losses since November 2014.

These catastrophes include Tropical Cyclone Marcia in February 2015, the South Australian bushfires in January 2015 and the Brisbane hailstorm in November 2014.