While Australia is still acclimating to the costs from the season’s bushfires and hailstorms, Cyclone Damien is expected to hit the country’s north-west this weekend.
The country’s Bureau of Meterology (BOM) is forecasting the development of a severe cyclone. Heavy rainfall is expected this week prior to the cyclone, as the tropical low moves west.
The BOM noted: “The low is expected to track to the west and move offshore on Wednesday [February 5] and develop into a cyclone. [It will] turn towards the Pilbara coast on Friday and intensify further before reaching the coast at the weekend. At this stage a severe cyclone impact is possible for the Pilbara coast between Exmouth and Port Hedland.”
Additionally, the Australian state of New South Wales on the south-east coast, which has borne the brunt of the bushfires this season, is expected to see severe rainfall and potential flooding over the coming week.
The latest bill from bushfire and hailstorm insured losses have reached A$2.16 billion (US$1.46 billion) since November; and claims continue to rise.
JP Morgan and Taylor Fry released a report on February 4 which found that climate change is the most significant issue for Australian insurers, as they continue to face exposure risks and massive costs.
Meanwhile, neighbouring country New Zealand was also hit by a deluge of massive rainfall – a month’s worth in a single day –which caused flooding and landslides, left roads and bridges washed out, and saw 100 hikers stranded on South Island.

Leave a Reply

e: [email protected] | t: +852-8191-5120 (hong kong) | t2: 050-5806-7296 (from japan)