Wednesday 24 March 2021

NSW floods continue and market sources suggest an insurance industry loss of more than A$1 billion is possible due to the scale flooding across the eastern half of Australia

 

The rain continues across north-east NSW.


Minor flooding is still occurring along the Wilsons River at Lismore and the Richmond River is rising from Wiangaree through to Coraki where the flood gauge registered 3.98 overnight.


Overnight the flood gauge at Grafton in the Clarence Valley registered 5.55 metres which means the flooding is now classed as "Major" there.


Down river the gauge at Ulmarra registered 4.20 metres which is just 0.07 metres below major flooding, while the gauge at Maclean registered 2.01 metres.


Coutts Crossing and Glenreagh are still affected by flooding from the Orara River, a tributary of the Clarence River. Overnight their gauges read 11.60 metres and 7,65 metres respectively.


Iluka at the mouth of the Clarence River is still cut off by Esk River flooding and access to Yamba is hampered by poor road surface conditions on the Romiaka and Oyster Channel causeways.


Road closures due to water across roads, land slips or badly damaged road surfaces are making local travel very difficult.


Elsewhere in the state, it appears that every major coastal river is either on Flood Watch or covered by a Flood Warning


There is every indication that the total damage bill for this March 2021 flooding across New South Wales will be eye-wateringly large.


Reinsurance News, 22 March 2021:


The Insurance Council of Australia (ICA) says it is working with the New South Wales Government to understand the severe weather and flooding currently impacting large parts of the region, particularly around the Mid-North Coast and Hawkesbury-Nepean.


The ICA has also declared a catastrophe for large parts of NSW, following the evacuation of around 18,000 residents as a result of widespread and intense rainfall.


Market sources suggest an insurance industry loss of more than A$1 billion could be seen, with the worst still anticipated over the next two days.


Days of torrential downpours have prompted rivers and dams to overflow around Sydney and in south-east Queensland……


Insurers are reported to have received storm-related claims over the last four days, however it is still too early to estimate the damage bill as many communities remain isolated.


The ICA adds that insurance assessors are standing by to move into these communities once the flood waters recede.


The volume and intensity of rain that has fallen in the past few days has caused damage over a huge area of NSW,” said Andrew Hall, Chief Executive Officer, ICA.


Insurers are assisting customers with their claims to help alleviate the stress and uncertainty associated with this unfolding weather event.


Insurers have placed disaster response specialists on standby to move into affected communities and assist customers with claims as soon as it is safe to do so.”


The Daily Telegraph, 22 March 2021:


The state’s flood disaster is expected to produce a massive clean-up bill, with insurers yesterday warned not to try and reduce payouts to people facing the worst of it.


Immediate disaster recovery payments were yesterday made available for families in 34 local government areas, with more council areas set to be added to the list.


Those eligible will be able to access a one-off payment of $1000 per adult and $400 per child to cover emergency costs.


The payment will be made available immediately to people in areas including Armidale, Bellingen, Central Coast, Cessnock City, Clarence Valley, Coffs Harbour, Dungog, Hawkesbury, Kempsey, Lake Macquarie, Maitland City, Mid-Coast, Nambucca Valley, Newcastle City, Port Macquarie-Hastings, Penrith, Port Stephens and Tenterfield.


Prime Minister Scott Morrison was yesterday briefed by Emergency Management Australia on the extreme weather issues in NSW. “This is a very complex weather system that is impacting on NSW at present over a very large area,” Mr Morrison said.


Mr Morrison and Premier Gladys Berejiklian have discussed the unfolding disaster with the Australian Defence Force. All mutual obligations for people on Jobseeker have also been suspended for those in the local government areas impacted by the NSW floods until at least April 6…….



The Daily Telegraph, 18 March 2021, p.11:


THE NSW government has waived the waste levy fee for residents disposing of storm and flood generated waste in seven North Coast local government areas declared Natural Disaster Areas.


NSW Environment Protection Authority CEO Tracy Mackey said the levy waiver followed storms and localised flooding that severely impacted the region in February.


We hope that this assistance helps communities to expedite their clean-up operations to help them get back on their feet as soon as possible,” she said.


The councils exempted include Clarence Valley, Coffs Harbour City, Kyogle, Lismore City, Nambucca Valley, Port Macquarie-Hastings and Richmond Valley. The exemption applied until May 31 on debris and waste created by local flooding. The levy would be waived at waste facilities nominated by the councils and local waste facility gate fees could still apply. 


Details of financial assistance available to flood affected individuals and families in New South Wales through Services Australia can be found at:


https://www.servicesaustralia.gov.au/individuals/services/centrelink/new-south-wales-floods-march-2021-australian-government-disaster-recovery-payment


List of eligible local government areas in which individuals and families are eligible for assistance:

https://www.servicesaustralia.gov.au/individuals/services/centrelink/new-south-wales-floods-march-2021-australian-government-disaster-recovery-payment


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