Original article by Cliona O’Dowd
The Australian – Page: 13 : 7-Jan-20
Australia’s insurance industry is expected to be hard hit by the bushfires, with some estimates suggesting that the total cost of claims could top $700m. The Insurance Council of Australia has advised that the industry has received more than 6,000 bushfire-related claims since September, with the bulk of them having been submitted between November and 3 January. S&P Global Ratings says insurers could ultimately receive more than 10,000 bushfire-related claims.
INSURANCE COUNCIL OF AUSTRALIA LIMITED, S&P GLOBAL RATINGS