Since La Niña’s announcement a fortnight ago, widespread showers have been recorded and it seems we have to start getting used to flooding, as suggested in the BOM’s October—April outlook.
A massive bushfire is currently scorching through more than 300 hectares of land along the Pacific Highway on the outskirts of the NSW-Queensland boundary.
Claims filed by clients affected by bushfires and dangerous storm events resulted in underwriting losses of $991 million in the three months period ending March, a huge shift from the $587 million in underwriting profits realised the previous quarter.
While the Australian Financial Complaints Authority (AFCA) acknowledged that bushfires close-by had a significant impact on the small business, the claimant’s policy with Suncorp-owned AAI clearly stipulated that any loss or damage suffered must be physical in nature.
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.
As charities are brought under sharp scrutiny, over $51 million raised by the renowned comedian Celeste Barber’s campaign on social media are in limbo.
Huge fires can be dangerous, forming their own weather systems, and bringing about powerful winds and numerous lighting that could fuel the intensity of fires while transferring them towards new fuel sources
For a climate resolution to be made at the AGM, a special resolution must first be approved by existing shareholders seeking to alter the company’s constitution. Nearly 87% of votes cast by members were opposed to the proposal to amend the constitution.
In the thick of the fires, after Premier Scott Morrison was mortified to jet back into the country a day early from his holiday in Hawaii, the PM declared a $2 billion bushfire catastrophe recovery fund, expected to assist people like Sarah. Several months down the road, only 10 percent of the funding has been assigned.
By January 2020, more than 1.25 billion animals had died in the 2019-2020 Australian bushfires that also killed at least 34 people and destroyed thousands of homes. Economists have estimated property loss from the bushfires at about $A3.5 billion ($2.4 billion USD), a situation that could compel banks to cut their economic growth projections.