According to the Insurance Council of Australia (ICA), since early November, 5850 fire-related insurance claims have been registered with insured losses estimated at A$375 million. However, the total cost of the disaster is not expected to be known for several weeks in the areas of high danger conditions.
New South Wales and Victoria being the two most populous states of the country have lost more than 6 million hectares (14.8 million acres) of land due to the bushfire havoc. Till now, 24 people have lost their lives; thousands of buildings demolished and has left some of the towns without electricity and mobile coverage.
Tourist parks in pleasant beach towns like Tomakin on the New South Wales south coast, owned and controlled by Aspen Group, said on Monday it has moved away holidaymakers from its rentals and as a consequences of fire it expects a loss of A$500,000($347,250) to its revenue.
Aspen said in a statement, “Tourists and residents have been advised to leave the region as it is unknown when the conditions will appear to be normal. Fire activity in the region of New South Wales south coast is quite catastrophic causing significant loss of life, housing and infrastructure."
Also Read: Bushfire wreaks havoc in Australia since late July
Bega Cheese operates two of its sites in New South Wales district it is named after, said its employees and dairy suppliers had been affected by the bushfires causing 9% of its shares sinking.
Victoria which accounts for one-third of Australia's milk production, it is being said fire has killed large numbers of livestock, upsetting A$3.3 billion industry.
Vitalharvest Freehold Trust, which leases farms to Australia's largest listed fruits and vegetable grower Costa Group, said fires had damaged a packing shed, equipment and vehicles at one of its berry farms.
Dangerous fires raged onto Kangaroo Island over the weekend and have killed two people.
Insurance Australia Group, said last week it is roughly expected to pay A$641 million as a natural peril allowance for this fiscal year.
Rival Suncrop said till now it had received more than 1,500 claims since early November when the fire began. Although, the full impact of fires will not be known until the time the areas are safe to access. ($1=1.4399 Australian Dollars)