Latest catastrophe cost figures revealed

The latest catastrophe cost figures have been released by the Insurance Council of Australia (ICA) following another summer of natural disasters across the country.

The ICA revealed that insurance companies received more than $535 million worth of claims as a result of the Pinery fires in South Australia, the Kurnell tornado in NSW, the Great Ocean Road bushfires in Victoria and the Yarloop bushfires in Western Australia.

Figures show that insurance losses from the Pinery Fires, which began in late November, have passed $171 million from 1,997 claims, as of 19 February.

The tornado that struck the Sydney suburb of Kurnell in December 2015 has resulted in 4,966 claims. Estimated losses to date are $205 million, with domestic residences copping a large bulk of damage.

The Great Ocean Road bushfire that destroyed more than 100 homes in late December stacked up 487 claims and estimated losses of $88.5 million.

Meanwhile, the massive bushfire that hit Yarloop in WA in early January led to 1,352 claims and estimated losses of $70.3 million to date.

The summer disasters follow a string of natural catastrophes to plague Australia over the last 15 months. Since November 2014, disasters and events across Australia have caused more than $2.6 billion in insurance losses.