Suncorp prepared for Qld flood claims

Insurer Suncorp says it has received 4500 claims related to Queensland's floods and storms, but is prepared for the financial impact.

Suncorp says it has made provisions for natural hazard claims of $520 million for the 2012/13 financial year.

In the six months to December 31, it had received $147 million in natural hazard claims.

Ex-tropical cyclone Oswald has caused widespread flooding and storm damage in Queensland and northern NSW in the last week.

Suncorp said it had so far received about 4500 claims related to Oswald, and expected more as floodwaters peaked in parts of Queensland and NSW.

The company said it also had a comprehensive re-insurance program to limit the financial impact of natural disasters.

The West Australian

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