HVRRF - Australia Bushfires The Costliest Ever At A$1.65bn (US $1.13bn) Insured Loss
The ongoing outbreak of bushfires in Australia is now said to be the costliest example from an insurance and reinsurance market loss perspective, as the latest data shows losses reached A$1.65 billion (US $1.13bn).
Estimated insurance claims from the bushfire disaster in Australia have kept rising, with claims lodged now reaching more than 20,000, according to the Insurance Council of Australia ((ICA)).
Insurance and reinsurance broker Aon (AON) goes into more detail in its latest catastrophe report, highlighting some 7,000 properties and structures as being destroyed by the fires, with 2,779 of these being homes.