Cyclone Larry Claims Settled

Insurance Council of Australia - Media Release
As reported on www.ica.com.au

Almost half of cyclone Larry insurance claims settled

Date: 31/07/2006
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Region: National
Category: Cyclone

Almost half the home building claims made in relation to Cyclone Larry have been settled the Insurance Council of Australia said today."While the process of lodging a claim, having it assessed and gaining approval for building and repair work inevitably takes time, insurers are giving high priority to expediting the process", Insurance Council of Australia Chief Executive Kerrie Kelly said today."In addition to the large number of claims which have been settled, repair work has been authorised on 70 percent of the remaining houses for which claims have been made. This represents a 36 percent increase since June."The insurance industry is working closely with the Cyclone Larry Operation Recovery Taskforce to help rebuild the homes and lives of those affected as quickly as possible."Insurers are also meeting regularly with the Queensland Government's Building Coordination Centre, based in Innisfail, to identify and resolve issues."This includes taking action to waterproof all homes before the next wet season and to prioritise, where possible, those homes in need of re-roofing."Insurers will continue to work with people in the cyclone-affected areas to ensure that outstanding claims are finalised as quickly as possible", Ms Kelly added.Customers affected by Cyclone Larry who have insurance-related questions should, in the first instance, contact their insurer, broker, assessor or, if necessary the local representative of the Insurance Ombudsman Service (IOS) (Vince Wass 0412 989303) or the IOS head office (1300780808). More Information:
Catherine Byrne
02 9253 5160
0402 152 585

End release.