IAG has reported a substantial increase in insurance claims after a series of intense weather events swept across Queensland, New South Wales, and Victoria since late October. The insurer – which operates brands including NRMA Insurance, CGU, WFI, ROLLiN’, and RACQ Insurance (RACQI) – has received more than 10,000 claims, with approximately 5,800 from RACQI policyholders. Most claims are linked to hail and storm damage affecting both vehicles and properties.
“Since our AGM on 23 October, we’ve seen several significant weather events across Queensland, New South Wales, and Victoria. IAG has received more than 10,000 claims across its brands which includes approximately 5,800 from RACQ Insurance (RACQI) customers. The majority of these claims relate to motor and property hail damage,” said Nick Hawkins, IAG managing director and CEO.
To address the influx, IAG has activated its Major Event Command Centre and deployed property assessors, partner builders, and specialist hail repairers to affected regions. The company has prioritised emergency repairs using technology that integrates real-time hazard data with customer information, enabling rapid outreach to policyholders, including those who have not yet submitted claims. In Brisbane’s Jindalee area, one of the hardest hit by the storms, IAG teams have been present to assist customers with lodging claims in person and to provide temporary accommodation for vulnerable individuals.
Luke Gallagher, IAG executive general manager of claims, noted that IAG’s Major Event Response team is monitoring ongoing weather forecasts and is prepared to allocate further resources as necessary. He said: “Now is the time to prepare your property for wild weather. If it is safe to do so, secure any debris, outdoor, and loose items around your property. Close windows and check window seals to avoid wind-driven rain entering your home.”
IAG has incorporated artificial intelligence into its claims triage process, which helps identify cases requiring urgent attention and enables faster resource allocation. The company’s Situational Awareness Mapping (SAM) system combines customer and hazard data to proactively reach out to affected policyholders, even before claims are lodged. Field teams are using satellite connectivity to maintain communications in areas where infrastructure has been disrupted.
Temporary solutions such as Make Safe Tarping are being used to protect properties awaiting more permanent repairs. IAG is encouraging customers to submit claims as soon as possible and to take steps to minimise further damage, including securing outdoor items, cleaning gutters, and parking vehicles under cover.
IAG has outlined its reinsurance protections, which are designed to limit the financial impact of natural catastrophe events. For its core brands in Australia and New Zealand, excluding RACQI, the group maintains long-term reinsurance arrangements that provide significant protection for natural peril events above the annual non-RACQI perils allowance of $1,316 million. In addition, quota share arrangements provide approximately $1 billion in downside protection for non-RACQI natural peril costs.
Following the acquisition of RACQ Insurance in September 2025, IAG has kept a separate reinsurance program for RACQI. This program capped the net cost of the initial severe storm event in South-East Queensland at $65 million, with further reductions for subsequent events. IAG has indicated plans to eventually consolidate these reinsurance arrangements. The company has reaffirmed its upgraded FY26 guidance as previously communicated at its Annual General Meeting.
