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Half-year weather losses top $1.8 billion

Extreme weather insured losses for the first half of this year hit $1.83 billion, as insurers prepare for more claims from the rain, flooding and destructive wind hitting NSW this week.

The total for the six months to June 30 includes $1.36 billion from Ex-Tropical Cyclone Alfred, $274 million from the north Queensland floods and $194 million from flooding that hit the NSW Mid North Coast and Hunter regions in May.

The claim count was 148,437, with 125,656 from Alfred, 11,547 from the NSW floods and 11,234 from the Queensland floods, the Insurance Council of Australia says.

“ICA is also closely monitoring the weather event that’s unfolding in NSW and urges residents right along the coast to follow the advice of emergency services,” director of mitigation and extreme weather response Liam Walter said today.

“Insurers are leaning forward and ready to support communities should they be impacted.”

By this morning, the NSW State Emergency Service had responded to more than 2320 incidents, with the coastal low shifting southwards from Newcastle towards Sydney, the Illawarra and South Coast.

Widespread rainfall totals reached 150mm overnight, with Ulladulla receiving 224mm.

Emergency warnings were issued for Burrill Lake, where about 200 properties were affected by flooding, some above floor level, and for Sanctuary Point. Wamberal and North Entrance residents were asked to evacuate due to coastal erosion risks.

The Bureau of Meteorology warned peak wind gusts of about 100km/h were possible today along parts of the coastal fringe from the South Coast through to the Mid North Coast, including Wollongong, eastern Sydney and Newcastle.

A minor to moderate flood warning was in place for the Hawkesbury and Nepean rivers and for the St Georges Basin, while a minor warning was issued for the Shoalhaven River.

Wind speeds are expected to drop below warning thresholds tomorrow morning as conditions ease.


From the latest Insurance News magazine: Find out just how close the east coast came to disaster when Cyclone Alfred swept ashore