More than 1011 claims attached to fires
Insurance Australia Group (IAG) has received about 600 claims from the bushfires in New South Wales.
The group’s Australia Direct and CGU businesses handle the claims, but haven’t been able to reach the affected region and assess the damage because of the ongoing fires.
According to IAG managing director and chief executive Mike Wilkins, the group had already agreed settlements on more than 50% of the total loss home claims.
“This is a traumatic time for many people and our thoughts are with everyone impacted by this terrible tragedy. Our recovery operation is well under way and we stand ready to assist,” said Wilkins.
Around 1,011 claims were made by the morning of 25 Friday October according to Insurance Council of Australia chief executive Rob Whelan, with estimated costs of A$138m (£81.7m).