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AU$75 million in insured losses so far for South Australia bushfires: council


December 1, 2015   by Canadian Underwriter


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With the number of claims from the South Australian bushfires reaching 525 Monday morning, the Insurance Council of Australia (ICA) reported total insured losses had hit AU$75 million.

AU$75 million in insured losses from South Austrailia bushfires so far

Declared a disaster by ICA Nov. 26, there are multiple bushfires burning north of Adelaide in South Australia.

ICA reports in a statement that insurance industry assessors – who arrived on scene Nov. 26 to help residents impacted by multiple bushfires burning across areas of South Australia’s mid-north region – have started work in affected areas.

The number of claims and associated losses “are expected to rise significantly in coming days as assessors continue investigating claims from policyholders,” the council adds.

Just three days earlier, on the morning of Nov. 27, related claims had numbered 415, with insured losses estimated at AU$61 million. At that time, ICA reported that 35 homes have been destroyed and another 42 damaged.

Rob Whelan

Council CEO Rob Whelan pointed out, however, that the region’s agricultural sector had been hardest hit. “These fires have had a devastating impact on the farming community with crop, stock and commercial assets making up the overwhelming bulk of the losses so far,” Whelan (pictured left) said.

The council’s Catastrophe Taskforce “has received reports of significant livestock losses, including thousands of pigs, sheep and chickens,” he reported. “Primary producers who need to euthanize injured livestock can do so, but they should first advise their insurer and make sure they keep records for the purposes of making a claim.”

Whelan said last Friday that “with the bushfires still burning and fears the number of fatalities may still rise, insurance assessors are waiting for advice from the emergency services about when it is safe to enter affected areas.”

ICA reported on Nov. 26 that bushfires are believed to have claimed at least two lives and left 13 people in hospital.

Affected policyholders are encouraged to get their claims in as soon as possible so insurers can begin to promptly assess their losses.


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