Lismore gets early flood insurance payment
LISMORE City Council insurer Statewide Mutual has presented the council with $1 million so important repair work can begin while the council's flood claim is processed.
The council estimates it will claim up to its maximum threshold of $3.5 million for property, contents, plant and clean-up costs following the March flood. The claim could take several months to process, however Statewide Mutual is keen to help Lismore get back on its feet, and has released $1 million early so flood restoration works can commence.
"Lismore suffered a significant natural disaster with the recent flood and this $1 million was given in good faith knowing that Lismore's losses would be upward of $3 million," Statewide Mutual representative Edwin Levack said.
"Statewide Mutual wanted to provide the money now so the council could begin work on the most pressing repairs. Ordinarily we would wait until an entire claim has been processed but in this case, with the severity and sheer magnitude of the disaster, we wanted to provide some immediate support to help Lismore start rebuilding."
The council's General Manager Gary Murphy said the $1 million would allow the council to begin restoration of damages to properties such as Lismore City Hall and the Gordon Pavilion, sporting facilities, public toilets and BBQs, as well as the council plant and machinery.
"To be able to start work now rather than waiting several more months is a fantastic outcome for our community," Mr Murphy said.
"Statewide Mutual has been incredibly understanding during this unusual time and this generous gesture will help Lismore to rebuild faster and get our city and our communities back on track."