Insurance Australia Group Ltd (ASX:IAG) and Suncorp Group Ltd (ASX:SUN) have already recorded hundreds of claims mostly from south-east Queensland as torrential rains move down to New South Wales. That’s according to The Australian Financial Review.
IAG has assesors in Queensland and Suncorp has sent a customer response unit to the Moreton Bay area, near Brisbane.
The insurers say they have increased response times after last year’s devastating floods.
IAG posted a net profit of $338 million in fiscal 2011.
