Economic and Insured Losses from Cyclone Alfred

With the total number of claims from ex-Tropical Cyclone Alfred reaching a staggering 53,182, leading risk management firm Aon has projected that both economic and insured losses are likely to surpass several hundreds of millions of Australian dollars. Cyclone Alfred made its dramatic landfall near Brisbane around 23:30 AEST on March 7, unleashing powerful winds, severe flooding, and a devastating storm surge that left a trail of destruction.

Impact on Queensland and New South Wales

As the seventh named storm of the Australian cyclone season, Cyclone Alfred primarily wreaked havoc in southeast Queensland and the North Coast of New South Wales, with the densely populated Brisbane area bearing the brunt of its fury. According to a detailed report from Aon, over 20,300 properties were at risk from the storm surge, and more than 450,000 properties were left without power in Queensland, marking the largest disaster-related power outage in the state’s history.

Human and Environmental Toll

Tragically, the cyclone resulted in at least one fatality, numerous injuries, and some individuals remain unaccounted for. The Gold Coast experienced significant coastal erosion, and highly exposed regions were severely impacted, as highlighted in Aon’s report.

Insurance Claims Statistics and Response

The Insurance Council of Australia (ICA) has reported that the total claims from Cyclone Alfred have reached 53,182, with 49,226 claims originating from Queensland and 3,956 from New South Wales. Among these, 48,621 claims are related to home damages, 2,315 to motor vehicles, and 2,246 to commercial properties. The number of claims has been rising steadily; it was 44,000 yesterday, up from 34,000 the day prior.

Recovery and Rebuilding Efforts

In light of these developments, the ICA has introduced a new Expression of Interest (EOI) form to encourage tradespeople from other states to assist in recovery and rebuilding efforts after Cyclone Alfred. Andrew Hall, CEO of the Insurance Council of Australia, emphasized, “While insurers are actively processing claims following ex-TC Alfred and have mobilized their own resources, this trial EOI initiative can offer insurers additional support if needed.”

“It allows tradespeople with the right skills and availability from across the country to secure work and contribute to the community’s ongoing recovery,” Hall added. “Importantly, trialing this initiative now provides the industry with a template for future, larger events when interstate surge workforces may be required.” He urged all qualified builders and tradespeople to express their interest in helping communities recover swiftly.