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Thousands of flood damage victims still waiting on claims as insurers face 'perf
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Thousands of flood damage victims still waiting on claims as insurers face ‘perfect storm’
After two years of floods inundating the east coast of Australia, thousands of customers are still waiting for claims to be processed.
Figures from the Insurance Council of Australia show that of 160,000 building insurance claims made across four major flooding events in 2022, more than 6,000 are yet to be closed.
More than 4,000 claims made for damage to buildings during the catastrophic flooding across NSW and SE Queensland in early 2022 are still outstanding.
Meanwhile, more than 1,300 building claims made during the south-east Australia weather catastrophe later that year, described as “the most devastating flooding event in Victoria’s history”, are also yet to be resolved.
The ABC analysed flood events the Insurance Council classified as a “catastrophe” or “significant” in 2022.
The Insurance Council of Australia said the industry was facing a “perfect storm” of multiple climate disasters, supply chain problems, builder shortages and a housing crisis all making their work difficult and delaying claims processing.
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