La Niña declaration likely to herald rise in property claims
The Bureau of Meteorology has declared a La Niña weather event for the 2021-2022 summer. These events notoriously result in cyclones and other natural disasters, leading to tragic loss of life and billions in property claims costs.
The current La Niña weather event undoubtedly will lead to a substantial increase in property damage and consequential business interruption claims. While insurers will want to meet social expectations about responding quickly following a weather disaster, it will be important to consider several coverage-related issues.
W+K’s Peter Coggins and Larissa Sutter examine the issues in this article.
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