TC Debbie recovery ahead of schedule
Tropical Cyclone Debbie recovery works should be largely completed by the end of the year with progress well ahead of previous catastrophe recovery efforts.
RACQ General Manager Personal Insurance Claims Andy Johnson said the rebuild was well ahead of previous events like Cyclone Yasi and Larry which, across the industry, were less than 57 percent finalised at the same stage.
“We are well on track to have most of our claims finalised by Christmas,” Mr Johnson said.
“In the past it has taken 12 months to reach the same stage of completion so it’s great news for our members that we have been able to get them back in their homes sooner than expected.
“In fact, RACQ finalised 25 percent of claims within the first ten days.”
Mr Johnson said claims that remained open were large, complex claims which required rebuild of all or part of the building.
“If anyone has done a major renovation they would understand it takes time. This is no different. There are a lot of processes involved and a lot of trades to coordinate,” he said.
“The complexity involved is the reason RACQ prefers to work with our members and manage the rebuild process, rather than supplying cash settlement simply to close off the claim quickly.”
The ICA reported the insurance industry received more than 67,000 claims from Tropical Cyclone Debbie worth almost $1.5 billion.