FOLLOW US
Follow us!

We are a proud member of the Financial Services Online network!

Connect with us on your favourite social media platform for the latest financial news, views, tips, tricks, resources and information.

Follow us on social media
Liability Insurance Australia
Australian liability insurance resources
Liability Insurance Australia :: News
SHARE

Share this news item!

Extreme Weather Drives $1.8 Billion in First Half Losses for Australian Insurers

Extreme Weather Drives $1.8 Billion in First Half Losses for Australian Insurers

Extreme Weather Drives $1.8 Billion in First Half Losses for Australian Insurers?w=400

⚠️The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

Extreme weather events in Australia have resulted in significant financial impacts for insurers, tallying $1.83 billion in losses during the first half of the year.
This comes as insurance companies gear up for further claims linked to ongoing severe weather in New South Wales.

The recorded losses up to June 30 comprise $1.36 billion attributed to Ex-Tropical Cyclone Alfred, $274 million from the North Queensland floods, and an additional $194 million from the floods in the NSW Mid North Coast and Hunter regions that occurred in May. The Insurance Council of Australia (ICA) has indicated a total of 148,437 claims, with Cyclone Alfred accounting for the bulk at 125,656, followed by 11,547 claims from the NSW floods and 11,234 from those in Queensland.

In a statement today, ICA's Director of Mitigation and Extreme Weather Response, Liam Walter, underscored the gravity of the situation developing in NSW, encouraging residents along the coast to heed instructions from emergency services. Walter emphasised the insurance sector's readiness to aid communities in distress.

As of this morning, NSW State Emergency Service has managed over 2320 incidents due to severe weather phenomena, with a coastal low moving from Newcastle towards Sydney, the Illawarra, and South Coast. Notable rainfall measurements include 150mm accumulations overnight in several areas, and Ulladulla witnessed 224mm.

Emergency advisories have been announced for Burrill Lake, impacting approximately 200 properties, and for Sanctuary Point. Wamberal and North Entrance residents face potential evacuation due to coastal erosion concerns. The Bureau of Meteorology warns of peak wind gusts reaching 100km/h along the coastal stretch from the South Coast to the Mid North Coast, covering regions such as Wollongong, eastern Sydney, and Newcastle.

Flood warnings remain in place, ranging from minor to moderate, for the Hawkesbury and Nepean rivers, as well as for the St Georges Basin, with a minor alert for Shoalhaven River. Wind conditions are anticipated to fall below alarming levels by tomorrow morning as weather conditions stabilise.

Published:Thursday, 3rd Jul 2025
Source: Paige Estritori

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

ICA Proposes Measures to Mitigate Escalating Motor Insurance Premiums
ICA Proposes Measures to Mitigate Escalating Motor Insurance Premiums
09 Feb 2026: Paige Estritori
The Insurance Council of Australia (ICA) has released a policy paper titled 'Motor Insurance Policy Paper - A Roadmap for Reducing Rising Premiums,' highlighting the urgent need for coordinated action to address systemic cost drivers behind the 42% increase in comprehensive motor insurance premiums since 2019. - read more
Budget Direct Triumphs as Australia's Top Insurer in 2026
Budget Direct Triumphs as Australia's Top Insurer in 2026
09 Feb 2026: Paige Estritori
In a remarkable achievement, Budget Direct has been honoured as the inaugural 'Insurer of the Year' at the 2026 Finder Provider of the Year Awards. This prestigious recognition underscores the company's unwavering commitment to delivering exceptional value and service to Australian policyholders. - read more
Australian Insurers Face Challenges in Cyber Risk Readiness
Australian Insurers Face Challenges in Cyber Risk Readiness
09 Feb 2026: Paige Estritori
Recent findings from the PwC Insurance Banana Skins Survey have raised concerns about the preparedness of Australian insurers in managing emerging risks, particularly in the realms of cyber security and artificial intelligence (AI). The survey indicates that Australian insurers scored 6.6% lower on the Preparedness Index compared to their global counterparts, highlighting a significant gap in readiness. - read more
Significant Decline in Australian Commercial Insurance Rates
Significant Decline in Australian Commercial Insurance Rates
09 Feb 2026: Paige Estritori
In a notable development for the Australian insurance market, commercial insurance rates experienced a substantial decline of 12% in the fourth quarter of 2025. This decrease, as reported by Marsh's Global Insurance Market Index, represents the most significant drop among the eight regions monitored and marks the steepest reduction since the Pacific rates began to decrease in early 2024. - read more
Treasury Initiates Review of Professional Indemnity Insurance to Support CSLR
Treasury Initiates Review of Professional Indemnity Insurance to Support CSLR
09 Feb 2026: Paige Estritori
The Australian Treasury has commenced a consultation process aimed at improving the effectiveness of professional indemnity (PI) insurance, with the goal of strengthening the Compensation Scheme of Last Resort (CSLR). This initiative seeks to gather stakeholder feedback on the current operation of PI insurance and explore opportunities for enhancement. - read more
Click for more Insurance News


Business Insurance Articles

Understanding Liability Insurance: A Must-Read for Australian Business Owners
Understanding Liability Insurance: A Must-Read for Australian Business Owners
As a business owner in Australia, navigating the complexities of insurance is crucial to safeguard your enterprise against unforeseen events. Liability insurance emerges as a cornerstone of a sound risk management plan, protecting you financially when held responsible for accidents, injuries or negligence. Its importance cannot be understated, as it serves not only to defend your business assets but also to ensure peace of mind in a climate of continually evolving liabilities. - read more
Understanding the Key Factors Influencing Your Liability Insurance Premiums
Understanding the Key Factors Influencing Your Liability Insurance Premiums
Liability insurance is a form of coverage that protects businesses against claims resulting from injuries and damage to people or property. It provides crucial peace of mind, ensuring that your business is shielded from potentially devastating financial losses due to lawsuits or claims against it. - read more
Public Liability Insurance Claims: What to Expect and How to Prepare
Public Liability Insurance Claims: What to Expect and How to Prepare
Public liability insurance is a type of insurance policy that provides coverage for businesses and individuals against claims made by third parties for injuries or damages sustained while on their property or as a result of their activities. - read more
The Importance of Public Liability Insurance in the Australian Labour Hire Industry
The Importance of Public Liability Insurance in the Australian Labour Hire Industry
The Australian labour hire industry has seen a significant rise in recent years, and with this growth, comes new and unique risks that companies in this industry must be prepared to navigate. One such risk is the potential for accidents or damages to occur in the workplace, which is where public liability insurance comes in. This article will explore the definition of public liability insurance and why it is so important for labour hire companies in Australia. - read more
The Cost of Safety: How Much Public Liability Insurance Does Your Australian Business Need?
The Cost of Safety: How Much Public Liability Insurance Does Your Australian Business Need?
As a business operating in Australia, understanding the ins and outs of public liability insurance is not just recommended, it's essential. This type of insurance serves as a safeguard, protecting your business against the financial repercussions of lawsuits and claims arising from third-party injuries or property damage due to your business operations. In a world where one unintended mishap can lead to costly legal battles, public liability insurance stands as your first line of defense. - read more


Start Here !
Your free liability insurance quote comparison starts here!
Cover Amount:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.


Knowledgebase
Disability Insurance:
A type of insurance protection that pays a portion of a person's income lost due to a total or partial disablement arising from either an accident or a sickness.



Quick Links: | Liability Insurance Australia | Public Liability Insurance | Professional Indemnity Insurance | Business Liability Cover | Small Business Liability Insurance | Liability Insurance For Trades | Liability Insurance Quote | Corporate Liability Insurance | Liability Insurance For Professionals | Best Liability Insurance Australia
| HOME | RATES | CALCULATORS | NEWS | ARTICLES | ABOUT | CONTACT | PRIVACY | BROKERS | AFFILIATES | SITEMAP |
This website is owned and operated by Clark Family Pty Ltd (as Trustee for the Clark Family Trust) 43 Larch Street Tallebudgera QLD 4228, A.C.N. 010281008, authorised Financial Services Representative of Unique Group Broker Services Pty Ltd, Australian Financial Services License 509434. Visit the ASIC website for additional licensing information.
powered by Financial Services Online | Copyright Clark Family Pty Ltd A.C.N. 010 281 008 - all rights reserved
IMPORTANT: We are neither authorised nor licensed to provide finance or financial products and we do not offer any form of credit or other financial advice. All product enquiries and requests for financial and/or other advice on this website are referred to third party intermediaries, insurers and lenders - with whom you can then deal directly. We may receive a fee or commission from these third parties in consideration for the referral. Before any action is taken to obtain a product or service referred to by this website, advice should be obtained (from either the third party to whom we refer you or from another qualified intermediary) as to the appropriateness of obtaining those products having regard to your objectives, financial situation and needs. Whilst we have our own process for vaidating the legitimacy of our referral partners, you should always verify the credentials of your financial adviser before proceeding with recommendations that they may present. Visit the ASIC website for further information.