Brought to you by:

Townsville braces for king tide flood as losses pass $1 billion

Facebook Twitter LinkedIn Google

A king tide could cause further flooding in Townsville tomorrow as the north Queensland city struggles to recover from last month’s devastating rainfall.

Townsville City Council says the king tides are expected from tomorrow to Thursday, with peak of 4.1 metres at 9.11am on Wednesday.

“Residents living in or visiting areas such as South Townsville, Railway Estate, Hanran Street and Ogden Street may be impacted by saltwater flooding,” the council says.

Meanwhile, insured losses from last month’s downpours have reached $1.041 billion. The latest Insurance Council of Australia figures show 25,778 claims received, with 23,090 open, 82 denied, 148 facing internal dispute resolution and seven in external dispute resolution.

The vast majority of claims are domestic (91%), but in terms of value, commercial claims account for 22% of losses. More than 11,000 claims relate to domestic buildings, almost 8000 to domestic contents and more than 4000 to domestic motor.

A second roundtable was held on Friday between politicians and insurance industry representatives.

Speaking before the meeting, Townsville Mayor Jenny Hill said insurance companies have a vital role to play “as families and businesses rebuild”.

The city council has also emphasised the importance of involving local tradespeople in the recovery.

The Townsville floods are Australia’s second $1 billion insurance loss in three months. Losses for December’s Sydney hailstorm now stand at $1.04 billion.