A hailstorm impacted communities throughout Southeast Queensland, earlier this week the ICA informed the public that it has been declared a catastrophe.
According to the Insurance Company’s spokesman Paul Turner, the “storm chasers” incident could lead to a spike the insurers’ costs and ultimately have a direct effect on reinsurance prices.
Apparently, Australia records about 60 tornadoes each year, mostly in New South Wales and Queensland, with Victoria recording just one or two in a year.
Surprisingly, one of the coronavirus outcomes has been a significant increase in clients contacting their insurance companies; and all for good reasons and Queensland has taken note.
The coronavirus pandemic has redefined our way of life—shut people at home to stay safe and any homeless person is believed to be posing the risk of passing on the virus.
In his LinkedIn post, Mr Sullivan noted that 74% of all damaged buildings had been built before 2009, a time when more stringent standards were introduced in the construction industry.
Queensland Health reported that the nurse from Rockhampton who last Friday triggered a lockdown at the state-owned Nursing Centre in North Rockhampton, had taken the COVID-19 test after showing symptoms of the disease, but returned to her workstation before receiving the positive test results.
Today, the demand for tiny homes is from folks who already own a house and have a backyard however, and because of the coronavirus pandemic, they’ve lost a segment of their income stream: hence, tiny houses are the new way of making some extra income.
Brendan Murphy, the Chief Medical Officer has directed the leading paediatric specialists in Australia to give a report on the Kawasaki disease, which highly resembles the illness reported in about 100 children in the United States, including teenagers and newborns in the last two months.
For most Australian farmers today, the sight of hail brings about worry especially during the warmer months when thunderstorms are prevalent, yet majority of them make no effort to include hail in their farm risk management plans.
The manner in which disputes are handled by insurers has increasingly raised concerns and attracted scrutiny as per the committee’s latest annual report, which notes that 60% of customer complaints were ruled in the insurers’ favour after stage two internal reviews.
In just a few months, the coronavirus crisis has plunged Australia in an economic insecurity and caused far-reaching impacts. The economy has been hit hard—from job losses, stock crashes to closure of businesses, this global pandemic has shaken the world and Australia is no exception.