ICA declares bushfire catastrophesSeptember 9 2019 by InsuranceAsia News Staff
The Insurance Council of Australia (ICA) has declared a catastrophe for bushfires that have damaged or destroyed homes and property in northern New South Wales and south-east Queensland.
The declaration gives priority to claims from affected policyholders; claims will be triaged by insurers to ensure support is directed to property-owners impacted by these fires.
Insurance Council of Australia chief executive Rob Whelan said more than 70 bushfires were still burning across southern Queensland and New South Wales. The fires fanned by high winds have resulted in multiple property losses since September 5, with the focus today on the area around Stanthorpe close to the New South Wales / Queensland border as well as locations in the Gold Coast hinterland. The extent of property loss is still to be determined, as is an estimate of the financial loss.
“The catastrophe declaration is intended to help alleviate some of the emotional and financial stress experienced by property owners affected by these bushfires,” Whelan said.
“Insurance companies are standing by to help their customers. I encourage anyone who has suffered property damage to contact their insurer as soon as possible to seek guidance on the claims process and the assistance they are entitled to under their policy.”
- September 20
Losses from Typhoon Jebi should not have been such a big surprise, but Faxai will test if the lessons have been learned.
- September 20
The typhoon is likely to cost the majors around US$1bn each as total market claims reach 185,000.
- September 17
At times last week's Japanese storm compared in strength with Typhoon Jebi.
- September 12
Unseasonably early bushfires are making IAG and Youi uneasy.