Claims Insurance Market Update

The last six months have seen an unprecedented number of insurance ‘catastrophes’ declared in Australia. Many homes, cars and businesses experienced serious damage, resulting in a major spike in insurance claims across the nation.

Unprecedented catastrophes in Australia

Insurance events declared catastrophes over the last 6 months are as follows:

East Coast Storms & flooding – February 2020

At 11/2/20 industry estimates that:

  • more than 21,000 claims have been received (90% building, 10% motor),
  • with a current value of $100 million.

Hail storms (VIC, ACT, QLD, NSW) – January 2020

At 28/2/20 the industry estimates that:

  • more than 87,500 claims have been received (over 60,000 for motor vehicles),
  • with a current estimated value of $805 million.

Hail storms (Sth East QLD) – November 2019

As at 20/12/19 the industry estimates that:

  • Approximately 22,000 claims have been lodged,
  • with an estimated value of $166 million.

Bushfire season (NSW, QLD, VIC, SA) – 2019/20

As at 14/2/20 the industry estimates that:

  • Approximately 23,362 claims have been received,
  • with an estimated total loss of $1.9 billion.

Bushfires (NSW) – October 2019

As at 19/11/19 the industry estimates that:

  • 225 claims have been lodged,
  • with an estimated value of $19 million.

Bushfires (NSW & QLD) – September 2019

As at 19/11/19 the industry estimates that:

  • 497 claims have been lodged,
  • with an estimated value of $37 million.

Find out more here:

The fallout

Evidently, the huge number of catastrophes across Australia has seen insurance claim lodgements go through the roof across Australia.

Insurance companies

With claim activity heightened at unprecedented volumes, insurance companies and brokers alike, are working as hard as possible to resolve matters for insured parties.


Accordingly, with the amount of damage sustained, repairers are also incredibly busy, doing their best to complete repair and replacement works.

Coronavirus (COVID-19) Impact

The Coronavirus pandemic has unfortunately added another layer of complexity to the claims insurance market, placing additional pressure on insurance companies, with government enforced shutdown of businesses resulting in an influx of enquiries from concerned clients.

These shutdowns are another obstacle for the industry to overcome, with insurers and brokers primarily working remotely, adjusting to new ways of operating and communicating as a business. We appreciate your understanding and patience as we work through this challenging time together.

With a high level of claim activity, the Whitbread claims team are doing their utmost to support you, and achieve the best possible outcome as fast as possible. We sincerely appreciate your patience. For further information on the progression of your claim, please get in touch with our team of claims specialists, who will be happy to assist:

T: 1300 424 627

Source: Insurance Council of Australia


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This insight article is not intended to be personal advice and you should not rely on it as a substitute for any form of personal advice. Please contact Whitbread Associates Pty Ltd ABN 69 005 490 228 Licence Number: 229092 trading as Whitbread Insurance Brokers for further information or refer to our website.

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