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Insured losses from Australian bushfires near A$1B


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Insured losses from Australian bushfires near A$1B

Insured losses from bushfires that have been ravaging large swaths of Australia since early September 2019 are estimated to near A$1 billion, according to the Insurance Council of Australia.

A total of 11,272 bushfire-related claims have been launched since Sept. 5, 2019, putting the combined catastrophe losses at A$995 million.

The bushfire catastrophe declared Nov. 8, 2019, has resulted in 10,550 claims and A$939 million in insurance losses. The bushfires have destroyed land and structures in New South Wales, Victoria, South Australia and Queensland.