Severe weather events in 2025 are estimated to have cost the economy a whopping $8.6 billion, with southeast Queensland and northern New South Wales copping the brunt of that.
Insurance claims jumped a massive 727 per cent compared to the previous year after a series of severe storms, floods and Tropical Cyclone Alfred.
The vast majority of insurance claims came in the wake of Tropical Cyclone Alfred in March.
More than 133,000 claims were lodged, worth $1.5 billion, according to the Insurance Council of Australia.
While Alfred saw the most claims, severe storms and hail that hit Queensland and New South Wales in November actually cost more.
There were almost 93,000 claims lodged after that event, totalling $ 1.7 billion.
Severe storms in October and early November across southeast Queensland and northern New South Wales saw another 41,200 claims lodged worth $895 million.
The extreme weather led to $4.8 billion in insurance losses nationwide, with $4.1 billion coming from Queensland alone.
But the wider economic losses from the events are estimated to be over $8.6 billion.
“While Queensland is no stranger to extreme weather, four severe events impacting a single state in 12 months is significant, with many communities still on the road to recovery,” ICA CEO Andrew Hall said.
“Storms and hail are complex events that often have a long tail, meaning claims continue to grow months after the event as more are lodged and assessed.”
