IAG update following Victorian earthquakes

IAG today said it is focused on supporting its customers affected by the series of earthquakes that struck Victoria yesterday morning, however it is too early to determine the extent and financial impact of the event.

As of 9am Thursday 23 September, IAG had received 435 claims across its brands. IAG expects to continue to receive a mixture of personal and commercial claims as customers identify damage to their property, noting current COVID-19 restrictions may result in it taking longer than usual for commercial customers to identify damage.

IAG Managing Director and CEO Nick Hawkins said IAG’s priority is the safety of its customers and people.

Our dedicated Major Event team is in place all year round to ensure we’re as well prepared as possible to support our customers following a natural disaster.

Nick Hawkins

Managing Director and CEO

“We encourage our customers who have suffered damage to their homes or properties to contact us to lodge their claim, so we can provide immediate support such as emergency make-safe repairs and temporary accommodation, as quickly as possible.”

After allowing for quota share arrangements, the combination of all catastrophe covers at 22 September 2021 results in IAG having a maximum event retention of $169 million.