February 21, 2017 / 9:52 PM / 5 months ago

BRIEF-Insurance Australia Group updates on Northern Sydney hail storm

1 Min Read

Feb 22 (Reuters) - Insurance Australia Group Ltd :

* Received more than 13,000 claims to date, predominantly motor, from Northern Sydney hailstorm on 18 February 2017

* IAG's natural perils allowance for FY17 is $680 million and company today reported net natural peril claim costs of $420 million for 1H17

* Assumed net cost from event together with further perils in FY17 will be within current perils allowance and available reinsurance cover

* Setting up specialist hail repair units across wollongong, castle hill and chatswood to help assess and repair hail damaged vehicles

* "Additional employees have been allocated to claims and repair management teams" Source text for Eikon: Further company coverage:

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below