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Financial Impact of Ex-Cyclone Alfred: Claims Surpass 50,000 and Losses Predicted in the Hundreds of Millions

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Ex-Tropical Cyclone Alfred Leaves a Wake of Destruction

In the aftermath of ex-Tropical Cyclone Alfred, claims have surged to 53,182, prompting Aon to project that economic and insured losses will likely surpass hundreds of millions of Australian dollars. Cyclone Alfred made its mark as it struck near Brisbane around 23:30 AEST on March 7, unleashing powerful winds, flooding, and storm surges that wreaked havoc across the region.

As the seventh named storm of the Australian cyclone season, Alfred had a significant impact on southeast Queensland and the North Coast of New South Wales, particularly affecting the densely populated Brisbane area. According to a fresh report from Aon, over 20,300 properties were at risk from the storm surge, while more than 450,000 properties experienced power outages in Queensland—the largest disaster-related outage in the state’s history.

Tragically, the cyclone resulted in at least one fatality, numerous injuries, and several missing persons. The Gold Coast suffered severe coastal erosion, with high-exposure areas bearing the brunt of the cyclone’s fury.

Insurance Claims Surge

The Insurance Council of Australia (ICA) reports that claims related to Cyclone Alfred have now reached 53,182, with 49,226 filed in Queensland and 3,956 in New South Wales. Of these claims, 48,621 pertain to home damage, 2,315 to motor vehicle damage, and 2,246 to commercial property damage. The number of claims continues to rise, having increased from 34,000 to 44,000 in just a day.

Call for Interstate Tradespeople

In response to the escalating claims, the ICA has launched a new Expression of Interest (EOI) form to attract interstate tradespeople to aid in recovery and rebuilding efforts after Cyclone Alfred. Andrew Hall, CEO of the Insurance Council of Australia, stated, “While insurers are advancing claims made following ex-TC Alfred and have mobilized their resources, this trial EOI initiative can provide insurers with additional support if needed.”

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He added, “This initiative offers interstate tradespeople with the right expertise and availability a chance to secure work while contributing to the community’s recovery efforts. Importantly, trialing this initiative now gives the industry a framework for future, larger events when interstate surge workforces may be necessary. We urge all qualified builders and tradespeople to express their interest in helping communities recover swiftly.”

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