Cyclone Marcia insurance claims total over $400m
IN SIX months, Campbell Fuller expects insurance claims from Cyclone Marcia to still be trickling through the system.
Although the majority will have been dealt with before then, the general manager of the Insurance Council of Australia said the claims were far from over.
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Last week, the Insurance Council revealed the value of insurance losses so far was $403.6million from 29,565 claims.
Mr Fuller said most of the very badly damaged or destroyed homes were built before the 1980s.
"In almost every case, the buildings that have been flattened were built to older-style designs with older materials," he said. "The damage we're seeing is typical of a mid-to-high strength cyclone."
A forum for insurance policyholders with questions about claims, settlement options, clean up and rebuilding will be held in Rockhampton tonight from 7pm to 9pm. To register call 1800 734 621.