Thousands of Qld homes impacted by Cyclone Jasper

Cairns was severely affected by unprecedented flooding and found itself cut off as roads leading north, south, and west were submerged, making it an island within Far North Queensland over the weekend.

According to the Bureau of Meteorology’s rainfall data as of 10 am on 18 December, the region experienced staggering rainfall total of approximately 640 millimetres within the past 24 hours due to the impact of ex-Tropical Cyclone Jasper, resulting in record-breaking floods.

The catastrophic weather conditions led to the rescue of hundreds of people, leaving around 10,000 individuals without power.

At the time of writing the Bureau has issued seven flood warnings across the Far North Queensland region, stretching from Ingham to Cape York Peninsula.

“This rainfall has caused major flooding at Kamerunga Bridge and Cairns Airport, with peaks occurring overnight Sunday into Monday,” the Bureau said.

Although further rainfall is expected, the heaviest falls are forecast to be north of the Barron catchment, with a gradual easing of floodwaters near the airport.

Jim Akerman, a broker and owner-operator of Coral Finance in Cairns, familiar with the region’s heavy rainfall and cyclone conditions, expressed concern about the situation.

He described the continuous rainfall lasting for five days has left many people without access to food and water.

“The cyclone itself missed us to the north, but we bore the brunt of all the rain and it’s just stayed there. We’ve had probably a metre and a half in four or five days,” Mr Akerman said.

“A lot of people have lost everything in their houses and cars.

“There’s a lot of people wanting to help them clear up and clear out, but yeah, we can’t access them, they’re still flooded in.”

Despite other broking businesses posting closures on social media, Mr Akerman, operating from home, affirmed his ability to continue providing services.

“I’ve been here, manning the phones. But if I can help with some of the people that have been affected by this, then [I’m] just going to get the ute out and see what we can do for them,” he said.

Looking ahead, he anticipates an increased demand for brokers to aid clients in meeting their finance needs. Fortunately, most of his clients have insurance coverage.

“The good thing is that after the problems we had in Townsville with the flooding a few years back most banks are making sure that everybody has house insurance now,” Mr Akerman said.

“But in the short term, we would be hoping that the banks will come to the party and make some arrangements for you.”

Banks to offer support

In response to the crisis, major banks have announced various forms of support.

The National Australian Bank (NAB) was the first to initiate Disaster Relief Grants of $1,000 for eligible customers impacted by the cyclone, along with offering loan deferrals, reduced repayment plans, and hardship options.

Following suit, ANZ and the Commonwealth Bank (CBA) have also extended their support.

ANZ announced short-term relief on home loans and other products and some business loans (however noted possible interest charges during that period), along with waiving certain fees.

Likewise, CBA is providing customised payment arrangements, waiving fees and charges, temporary overdrafts, and additional loans or emergency credit limit increases.

Westpac has also unveiled a series of support initiatives designed to aid businesses and households. For example, small business customers meeting specific eligibility criteria can now access a $3,000 grant per customer group.

Moreover, Westpac is extending personalized support to affected customers through a comprehensive disaster relief package. This package includes options such as loan deferrals, allowing impacted individuals or businesses to defer repayments for up to three months. Additionally, emergency credit card relief forms part of this support initiative.

Additionally, emergency accommodation options are available for customers with Home Insurance provided by Hollard, distributed by CommBank, subject to policy terms and conditions, as well as additional loans or emergency credit limit increases.

Meanwhile, Deputy Premier Cameron Dick announced the extension of disaster assistance for Tropical Cyclone Jasper to more areas, aiming to help residents and local councils cover response and reconstruction costs.

Now, the entirety of LGAs (local government areas) including Cairns, Mareeba, Tablelands, and Cassowary Coast, along with specific localities in Cook Shire, are eligible for assistance.

Residents can access grants ranging from $180 for individuals to up to $900 for families of five or more, aimed at covering essential costs like food, clothing, and medicine.

Furthermore, the Essential Services Safety and Reconnection Scheme is available to eligible home owners needing to restore electricity, gas, water, or sewerage services.

[Related: Brokers remain alert to assist amid bushfires]