Super Storm: Insurance costs reach over a billion dollars and rising

Insurance experts say fallout costs from Brisbane’s supercell storm have now reached $1.1 billion dollars and are expected to continue to rise.

The massive storm, which only lasted an hour, tore into the Brisbane region last November, and subjected Brisbanites’ homes, workplaces, cars and property to golf-sized hail stones, torrential rain and gale force winds of about 140 kilometres an hour.

The Insurance Council of Australia says more than 100,000 claims have been lodged with 65,000 of those for damaged cars.

It is expected Insurance companies will continue to pay out claims to repair damaged property until the end of 2015.

News Categories: