News Non-Life11 Nov 2019

Australia:4th bushfire catastrophe announced this year

11 Nov 2019

The Insurance Council of Australia (ICA) has declared a catastrophe for the tragic bushfires blazing in northern New South Wales, that has so far destroyed more than 150 homes.

This is the fourth bushfire catastrophe declared this year. Insured losses from the previous three bushfire disasters totalled nearly A$77m ($52.8m).

In October, the Rappville bushfire resulted in 200 claims with insured losses estimated at A$25m.

In September, insurers received 300 claims from fires in northern NSW and south-east Queensland, with A$20m in insured losses.

In March, the Bunyip bushfires in eastern Victoria caused losses of A$31.9m, with 432 claims received.

The first catastrophe for this year was declared in February for damage to Townsville and surrounding regions following a monsoonal downpour. Insurers received more than 30,000 claims with losses suffered of A$1.3bn.

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