Insurance losses now valued at AUS$75m following catastrophic wildfires in South Australia
Bushfires in South Australia have generated insured losses of AUS$75m (£36m) as of today.
According to figures from the Insurance Council of Australia (ICA), 525 claims have been made so far, and the value of the loss is expected to increase significantly as assessors continue to investigate claims over the coming days.
The wildfires broke out last Wednesday just north of Adelaide, killing two people and leaving many others in hospital, as the region struggled with heatwave conditions. The fires also destroyed at least 16 homes.
Last Thursday, the ICA declared the fires a “catastrophe”, activated a disaster hotline and prepared staff to be deployed at recovery centres so they could speak directly with affected policyholders.
The hotline is still open and staff are still present at various local evacuation centres.