Insurance claims skyrocket post bushfire crisis

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As communities across Australia continue to assess the damage from the ongoing bushfire crisis, attention turns to insurance claims for damaged and destroyed properties.

“Emergency response teams of assessors and claims specialists have been deployed to help customers process claims, and emergency accommodation and cash advances have been provided,” said Treasurer Josh Frydenberg in a statement on Tuesday 7 January.

“Insurers have implemented a triage process to ensure the worst-affected policyholders receive urgent attention.

“Approximately 20% of claims lodged have been processed and around half of these have been settled.”

On 7 January, the Insurance Council of Australia CEO Rob Whelan said insurers had received over 8,900 claims since September from NSW, Queensland, Victoria and SA, with losses standing at $700 million after the bushfire crisis. Many more claims are expected to be lodged in the coming weeks.

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