The residents of Australia have sent in 79000 claims totaling $491 million and they are expecting the amount to surpass $700 million dollars.
If this is the case, the storm will pass the amount paid out in 2007 of $707 million dollars. A hail storm in 1986 is at this time the most pricey storm. They began keeping accounts on record of storms starting in 1967.
The only other high claim times then storms are during the Ash Wednesday and Black Saturday with bush-fires.
The storm only took 2 hours to cause the havoc. It is a unusual occurrence to be able to declare a catastrophe in only a few hours as that. There are strict rules that have to be followed in order to claim it as a catastrophe.
Nicholas Schofield, a person speaking for Allianz, an insurance company in Australia, reported that this storm would be one of the top 5 most pricey storms for Australia. It could even be in one of the top 3.
He also reported that there are a lot of claims for water damage but he feel that most of them will be for hail damage.
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