The Tasmanian bushfire event, now in its sixth week but has caused little in the way of insured damage.
A total of seven residential properties have been destroyed and a number of forestry related resources. The event has not been declared a catastrophe by the industry. However, Insurance Council of Australia (ICA) has deployed a team to visit evacuation centres and to attend community forums to address any concerns that might exist around insurance.
The fires are expected to not be bought under complete control for some time yet, the ICA has indicated that they are continuing to liaise with the State Government and will monitor the event for any further impacts.
Daniel Quintin, Chairman of the National Insurance Brokers Association (NIBA) Tasmania sub-committee said, “NIBA is up-to-date on bushfire developments across Tasmania, supported by the local broking community and the ICA.”
“From a catastrophe (CAT) perspective, early indications suggest that the efforts of the Tasmanian Fire Service (supported by interstate and New Zealand Fire Service personnel) have been invaluable. Their efforts (and that of the SES, Ambulance & Community Workers) have lessened the impact on the market, they have also been instrumental in preservation of life, livestock, property and consequential loss, avoiding a CAT trigger and triage thereafter.”
He explained that at this stage, only a few incurred and reported insured events have been lodged. As the situation evolves, more information will enable brokers, insurers, adjusters, and assessors to respond as required, “NIBA encourages domestic, commercial, and corporate clients across Tasmania to remain vigilant, follow the advice and recommendations of the Tasmania Fire Service, and to speak with your broker if you have any concerns.”
The Tasmania Fire Service’s (TFS) latest updated states that although the fire weather conditions are favourable, they urge Tasmanians not to become complacent, “These fires will continue to remain a risk to communities for some time yet. People living in these areas should continue to monitor the situation and stay up to date by looking at the TFS website and by listening to ABC local radio.”