BRISBANE HAIL LOSS INCREASES TO A$145.9M AND EXPECTED TO KEEP RISING

Insured losses from last week’s severe hailstorm in Brisbane have now risen to A$145.9m, the Insurance Council of Australia has said. ICA said insurers have now received 21,145 claims related to the hailstorm, which is the costliest natural catastrophe to impact the country’s insurers in 2014. The loss bill is expected to rise further. The storm hit Brisbane last Thursday, November 27, with hail reported to be larger than golf balls and wind gusts in excess of 140mph impacting the city during the rush hour at the end of the working day. The event was declared a catastrophe by ICA later the same day, meaning claims associated with the storm will be treated as a priority.