Rainfall has brought a brief respite to Australia’s bushfires. However, claims keep climbing with latest figures at 16,380 claims meaning US$970 million (A$1.41 billion) in losses — alongside severe hailstorms pelting urban areas in the last few days.
Australia’s southeast areas, including Melbourne and Canberra, have been hit with large hail stones, intense thunderstorms and heavy rainfall. Across the Queensland region, 20,000 homes and businesses saw a power cut due to the storms.
The country’s weather bureau noted that despite the heavy rainfall over the weekend, they were unlikely to extinguish the remaining bushfires. Firefighters are still actively fighting fires in the Victoria region; and a recent report from risk analysis firm Risk Frontiers highlighted that one million homes are at high risk due to their close proximity to the bushfire danger zones.
It is not yet known if the latest round of hailstorms will mean significant losses for the market — property losses from the 2018 Sydney hailstorm reached US$550 million — but the series of extreme weather catastrophes is likely to put strain on market players.

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