The Insurance Council of Australia has upgraded its classification for the NSW floods, labelling them a catastrophe due to the “breadth and severity” of the damage. 

It opened an insurance hub in Taree today to help policyholders, as the number of claims climbed to 4900. 

CEO Andrew Hall says the catastrophe declaration will “serve to activate additional services and support for affected homeowners and businesses, and reassure them that their insurer is there to help”. 

Insurers have received 3954 home, 771 motor and 212 commercial claims. 

“Seeing the damage here in Taree today, it’s clear the road to recovery will be a long one. Our number one priority is helping households and businesses in the clean-up and recovery so they can get back on their feet as quickly and safely as possible,” Mr Hall said. 

IAG told the stock exchange this morning it had received 2500 claims as of 9am, mostly for property damage due to heavy rain, strong wind and floodwater. 

“We have been contacting and doorknocking customers to ensure they are safe and offering help with claims, including immediate support such as temporary accommodation and emergency financial assistance,” CEO Nick Hawkins said. 

Allianz had received 973 claims by 12.30pm yesterday, mostly from Port Macquarie and Taree. The number is expected to rise as floods recede and customers head home to inspect the damage, it says. 

Insurers say they have deployed extra personnel to respond to claims, and the sector has again highlighted the need to build resilience following repeated floods in the region. 

“We know in many high-risk areas we need to build back better,” Mr Hawkins said. 

“Our assessors are working with customers on resilience measures as part of the repair and rebuilding process, such as using waterproof materials, raising power points and moving hot water tanks and air-conditioning units to a higher level.”