Australia is affected by fires. About 130 fires have been burning across New South Wales state from Monday, with 31 more in neighbouring Victoria. Almost every state in Australia is being affected. On Saturday, conditions became catastrophic, with temperatures reaching 100 degrees Fahrenheit.
Wildfires have blackened more than 23,000 square miles and smoke has blanketed an area half the size of Europe. The losses will be unprecedented but unlike a cyclone or flood event, which result in claims that typically run in the tens of thousands, these fires may result in claims of up to 10 thousand, involving rural properties, farms and businesses from remote towns. Many homes in these rural locations would not be insured, as they are in high fire risk areas and insurance would have been expensive. Sadly, this will be a lot of people without a home to go back to.
The estimate of the loss so far is about AUD 700 Million but it is not over yet. The fires are still raging.
vrs ANA Chartered Loss Adjusters, the Australian Partner of vrs Adjusters, has received about 50 claims so far and expect to receive about 300 claims over the next two months.
vrs ANA has implemented his CAT Plan. For additional information, you can contact:
Mr. Jaye Kumar
vrs Regional Director Asia Pacific
Jaye Kumar is the Founder and Managing Director of vrs ANA, member of vrs Adjusters, the global organization of loss adjusting companies, specialising in corporate and commercial insurance claims and operating in 147 countries around the world.