Fire restrictions are in place across the Australian state of Victoria as one of its most popular national parks burns and officials warn of potentially “catastrophic” conditions in some areas over Christmas. A large bushfire near the scenic Grampians National …
Australia faces an increased risk of bushfires during the approaching summer, authorities warned on Thursday, with the El Niño weather pattern expected to generate hotter and drier conditions across large swathes of the country. Three years of incessant rain has …
Australia’s mounting extreme weather events threaten to make home insurance premiums unaffordable for an estimated 1 million households. On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in …
Australia’s weather bureau said on Tuesday a La Niña weather phenomenon had developed in the Pacific Ocean for the second year in a row that could bring above average rainfall across the country’s center, north and east. La Niña is …
The Insurance Council of Australia (ICA) welcomed the budget announcement from the state of Victoria of funding of A$517 million (US$401 million), which will be allocated across several bushfire risk reduction projects. However, the ICA emphasized that the projected growth …
The Insurance Council of Australia (ICA) has declared a catastrophe for the Perth Hills bushfires which continue to burn north-east of Perth. Insurers have received more than 270 claims and estimated loss value is over A$40 million (US$30.5 million), this …
Insured losses for the Australian bushfires of 2019/2020 rose to A$1.866 billion (US$1.441 billion), according to estimates issued by PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This fourth and final industry loss estimate is a slight …
The insurance industry’s loss footprint for the Australian bushfires of 2019/2020 is estimated at A$1.9 billion (US$1.3 billion), according to PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data. The industry loss data cover the peak period for the …
The cost of insurance claims from four natural catastrophes during Australia’s 2019-2020 summer has passed A$5.19 billion (US$3.44 billion), said the Insurance Council of Australia (ICA). Thousands of new claims and property loss assessments have pushed total claims to more …
Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. But while banks have been only too willing to …
