Hot summer leads to more claims
Posted by Robert Cooper on Jan 21 2016
Insurance claims have exceeded $515 million so far this summer and are likely to jump further as the country continues to grapple with bushfires and severe storms.
The Insurance Council of Australia (ICA) said the figure is made up from four catastrophes, including three major bushfires in Pinery in South Australia, Victoria's Great Ocean Road and in Yarloop in Western Australia, and from the Sydney storm and tornado in December.
"Insurers were expecting this to be a fairly dire summer, all predictions were for a heightened bushfire risk in exactly the areas that have suffered bushfires, and this is still only mid-summer.
The world has also experienced the hottest year on record since 1880. With more evaporation of land and oceans, combined with more mositure in the atmosphere creating more storm activity and then a greater volume being dumped somewhere else on the planet, it is unlikely these events will reduce into the future.
Last changed: Jan 21 2016 at 7:02 PM