Australian forest fires affect businesses, damage is still being assessed

SYDNEY: As is the deadly rage, many companies are reporting successes to companies with resorts closing their doors, cheese makers struggle to ensure milk supply and growing insurance claims.

According to the Australian Insurance Council (ICA), up to 5,850 fire-related insurance claims have been filed since early November with insured losses estimated at A $ 375 million. However, with conditions still too dangerous in many areas, it is not expected to know the total cost of the disaster for several weeks.

The fires have swept over 6 million hectares (14.8 million acres) of land in the two most populous states of New south Wales (NSW) and Victoria, killing 24 people so far, sweeping thousands of buildings and leaving some cities without electricity or mobile coverage.

Aspen Group, which owns tourist parks in idyllic beach towns like Tomakin on the south coast of New South Wales, said Monday that it has rejected tourists from their rentals as a result of the fires and expects an impact of at least $ 500,000 Australians ($ 347,250) income.

La actividad de incendios a lo largo de la costa sur de New south Wales ha sido catastrófica con una pérdida significativa de vidas, viviendas e infraestructura, dijo Aspen en un comunicado.

Tourists and residents have been asked to leave the region. It is not known when commercial conditions will return to normal, he said, although none of its properties have been affected by fires.

Bega Cheese, which operates two sites in the NSW district that bears his name, said its employees and dairy suppliers had been affected by forest fires, sending their shares to 9% on Monday.

In Victoria, which represents one third of Australia's milk production, fires are expected to have killed large numbers of livestock, destroying an industry of A $ 3.3 billion.

Vitalharvest Freehold Trust, which leases farms from Australia's largest fruit and vegetable producer, Costa Group, said the fires had damaged a packing shed, including equipment and vehicles on one of its berry farms.

The farm comprises approximately 6% of Vitalharvest berry plantations, he said, adding that a full evaluation had not yet been carried out.

Plantation Timbers requested a stop in the stock market until Tuesday, awaiting an announcement about the current fire situation.

Kangaroo Island is a popular vacation spot in South Australia where two people died while burning dangerous fires during the weekend.

Last week, Insurance Australia Group said it expected to pay approximately A $ 400 million in claims for natural risk during the six months through December 31. That is more than half of its natural risk allocation of A $ 641 million for the fiscal year.

Rival Suncorp said he had received more than 1,500 claims since the fires began in November. However, the total impact will not be known for several weeks until the areas are safe to access.

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