Wed, 22nd Jan 2025

This week's insurance news wrap-up includes reports of insurability crises due to destructive bushfires in Halls Gap, Victoria, with local businesses facing possible closures due to rising insurance premiums and the insurability issue. Meanwhile, in New South Wales and the Australian Capital Territory, over 11,000 claims have been filed following severe electrical storms. The situation has triggered emergency responses, including Suncorp's Mobile Disaster Response Hub. Commonwealth-State Disaster Recovery Funding Arrangements have aided recovery efforts, providing help to uninsured, low-income residents. Eastern Australia continues to experience severe weather, particularly affecting New South Wales and Queensland. With thousands of incidents and extensive power outages, insurance companies, including Allianz and Suncorp, are handling a surge in claims. The situation underscores the importance of readiness from individuals and the insurance industry amidst these weather-related crises.