News: Suncorp Group hit with Brisbane storm claims

.

Suncorp Group Limited (ASX:SUN) has received thousands of claims following storms in Brisbane last Thursday which were described as the worst to hit the city in 30 years.  

 

The insurance company says it has put extra measures in place to help process about 1,600 motor and 1,000 home claims it has taken. 

 

Suncorp has also activated its major claims event capabilities which includes more mobile customer response teams deployed to the affected areas. 

 

The company says it has a comprehensive reinsurance program to limit the financial impact of natural hazard events which will cap the financial hit to $250 million, before tax. 

 

Over the full 2015 financial year Suncorp has an allowance of $595 million for natural disaster events. 

 

Suncorp reported a net profit of $737 million in the 2014 financial year.