Truck Cover Australia :: News
SHARE

Share this news item!

Suncorp Reaches Maximum Reinsurance Retention Following Severe Storms in Queensland and NSW

Recent Supercell Thunderstorms Lead to Significant Insurance Claims and Financial Implications

Suncorp Reaches Maximum Reinsurance Retention Following Severe Storms in Queensland and NSW?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Recent supercell thunderstorms in South East Queensland and northern New South Wales have led to a surge in insurance claims, prompting Suncorp to reach its maximum reinsurance retention of $350 million.
The insurer has reported over 10,000 claims related to these events, with approximately half pertaining to home damages and the other half to motor vehicles.

For truck operators and logistics businesses, these developments highlight the critical importance of comprehensive insurance coverage. Natural disasters can cause significant disruptions, leading to vehicle damage, operational downtime, and financial losses. Ensuring that insurance policies adequately cover such events is essential for maintaining business continuity.

It's also important to note that reaching maximum reinsurance retention can have broader implications for the insurance industry, potentially influencing premium rates and policy terms. Truck operators should stay informed about these trends and work closely with their insurance providers to understand how such events might impact their coverage and costs.

Proactive risk management, including regular policy reviews and assessments of coverage adequacy, can help mitigate the financial impact of natural disasters. Additionally, implementing preventive measures, such as securing vehicles and equipment during severe weather warnings, can reduce potential damages and associated claims.

Published:Thursday, 11th Dec 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Heightened Road Risks During Holiday Season: Insurers Issue Warnings
Heightened Road Risks During Holiday Season: Insurers Issue Warnings
20 Jan 2026: Paige Estritori
As the Australian summer school holidays coincide with peak freight activity, insurers and transport specialists are raising concerns about heightened road risks. The surge in freight traffic, coupled with increased holiday travel, amplifies the potential for road incidents, particularly involving heavy vehicles. - read more
Insuregroup's Remarkable Growth in Truck Insurance Policies
Insuregroup's Remarkable Growth in Truck Insurance Policies
20 Jan 2026: Paige Estritori
Insuregroup, a specialist insurance brokerage serving Australia's transport and logistics sector, has recently announced a significant milestone: processing over 10,000 insurance policies since its inception, with a 25% increase in policy volume over the past year. This growth underscores the escalating demand for comprehensive truck insurance solutions tailored to the unique needs of Australian freight operators. - read more
NTARC Report Identifies Inattention and Speed as Primary Factors in Major Truck Crashes
NTARC Report Identifies Inattention and Speed as Primary Factors in Major Truck Crashes
20 Jan 2026: Paige Estritori
The National Truck Accident Research Centre (NTARC) has released its latest Major Incident Investigation Report, shedding light on the predominant causes of significant truck crashes across Australia. The findings reveal that human factors, particularly inattention, distraction, and inappropriate speed, continue to be the leading contributors to these incidents. - read more
Queensland Integrates Heavy Vehicle Compliance with National Regulator
Queensland Integrates Heavy Vehicle Compliance with National Regulator
12 Jan 2026: Paige Estritori
In a significant move towards regulatory uniformity, Queensland has transitioned its heavy vehicle compliance responsibilities to the National Heavy Vehicle Regulator (NHVR). This change, effective from February 19, 2024, positions Queensland alongside New South Wales, South Australia, Victoria, Tasmania, and the Australian Capital Territory in adopting a cohesive approach to heavy vehicle oversight. - read more


Truck Insurance Articles

How Preventative Maintenance Can Reduce Your Truck Insurance Costs
How Preventative Maintenance Can Reduce Your Truck Insurance Costs
As a proud truck owner, you understand that your vehicle is more than just a means of transportation; it's a vital part of your livelihood. With the unique insurance needs specific to your industry, ensuring that your truck is well-maintained can have a substantial impact on your insurance costs. - read more
The Key Factors Influencing Your Truck Insurance Premiums
The Key Factors Influencing Your Truck Insurance Premiums
Welcome to our latest blog post where we dive deep into the world of truck insurance premiums. If you're a truck owner or operator in Australia, this is a topic you can't afford to overlook. Understanding how your premiums are calculated can make a significant difference to your bottom line. - read more
The Role of Preventative Maintenance in Reducing Your Truck Insurance Premiums
The Role of Preventative Maintenance in Reducing Your Truck Insurance Premiums
For many Australian business owners, truck insurance is a crucial part of financial planning. It protects your investment and keeps your operations running efficiently. Truck insurance isn't just about compliance; it's about security and peace of mind. - read more
Tips to Cut Your Truck Insurance Costs
Tips to Cut Your Truck Insurance Costs
Welcome to our guide on cutting truck insurance costs! Truck insurance is a must-have for fleet managers, but it can be expensive. This article will explore ways to make it more affordable while ensuring your trucks are adequately covered. - read more

Knowledgebase
Copayment:
A fixed amount you pay for a covered healthcare service, usually when you receive the service.