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  • Suncorp (SUN) is preparing to assist its insurance and banking customers following the heavy rainfall and flooding across New South Wales and southeast Queensland
  • The national insurer says that it’s too early to accurately estimate the ultimate number of claims it expects to receive or the final costs
  • However, as of today, March 22, Suncorp has received 1300 claims with over one in five received online
  • On market close for the day, Suncorp is down 2.07 per cent and is trading at $9.92 per share

Suncorp (SUN) preparing to assist its insurance and banking customers following the heavy rainfall and flooding across New South Wales and southeast Queensland.

Thousands of people across NSW are currently battling the “one-in-100-year event“, and residents in South East Queensland are being warned of severe storms.

The national insurer is urging customers to take care, listen to emergence services and lodge their claim when it is safe to do so.

“Our thoughts are with communities contending with this weather and
the emergency services personnel and volunteers who are putting themselves in harm’s way,” CEO Steve Johnston said.

“Our Customer Support Teams will be deployed to the most impacted regions when waters recede, and our affected bank customers can access our emergency relief package. Our customers can be assured that we’re committed to their recovery and we will be with them every step of the way,” he added.

Suncorp says that it is too early to accurately estimate the ultimate number of claims it expects to receive or the final costs in relation to the recent weather.

However, as of today, March 22, Suncorp has received 1300 claims with over one in five received online.

The company has a comprehensive reinsurance program in place for FY21, with the full limits remaining available on the group’s main catastrophe program and the dropdown aggregate covers.

On market close for the day, Suncorp is down 2.07 per cent and is trading at $9.92 per share.

SUN by the numbers
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