The one thing we can guarantee is that over the next six months or so we will be certain to face these types of natural disasters again. But, we can’t predict how many or the sheer severity of their impact on our communities.
If we look back on the most recent major weather events, according to the Insurance Council of Australia (ICA), they cost the general insurance market a conservative $2.087 billion. This is a staggering amount and does straddle both personal and commercial insurance.
The map below highlights these events and the associated impact in dollar terms.
2014/15 Disaster Map
If you knew these events were going to happen, would you have proactively reached out to your clients to see if their circumstances had changed and ensure their coverage was as comprehensive as it needed to be? The reality is, yes, you most certainly would have done everything in your power to minimise your clients’ losses.
We cannot accurately predict future natural disasters or major weather events. But we can look to the past and ask ourselves, what could I do now, knowing Australia has a long history of seasonal weather behaviours, to better protect my clients? Prevention of loss is the ultimate goal and we have well documented strategies and checklists for bushfire & storm/cyclone season preparedness.
The map above, may be well worth sharing with clients to remind them how truly harrowing the Australian weather environment can be and suggest they come in or call you for chat to ensure they have everything in place from prevention, to up-to-date coverage before the festive season kicks in and CAT season is upon us.
Throughout the end of 2014 and first quarter of 2015 Australia experienced a number of severe weather events along the eastern seaboard and in South Australia. Mainly storm/cyclones and a major bushfire in SA, these were not unique or one off ‘catastrophes’.