Recently, the Insurance Council of Australia (ICA) confirmed that insured losses from 3,123 claims resulting from Victoria’s devastating bushfires have exceeded $200 million, after the major event was upgraded to an insured catastrophe.
This claim number includes property, auto, commercial and business interruption claims, of which 30% is property claims estimated as total losses.
Bushfires have been burning in parts of Victoria since January 7, 2026, burning a total of approximately 985,000 acres, the ICA reported on January 16, 2026.
Aon’s weekly disaster report earlier said the fires had damaged or destroyed around 260 homes and 900 buildings, causing significant agricultural damage and one death, and were expected to continue burning for weeks.
The ICA says insurers are prioritizing claims from Victorians affected by the bushfires. Claims are expected to continue as access is restored and home and business owners return.
To date, the insurer has operations in Castlemaine, Harcourt, Nattimook, Seymour, Skipton and Yea, supporting affected policyholders through the claims and recovery process and will consider moving into other areas once it is safe to do so.
ICA chief executive Andrew Hall commented: “While insurance companies continue to have a strong focus on Victoria, safety is the top priority. These bushfires remain an ongoing event and I encourage Victorians to follow the advice of emergency services.
“Being there, you can understand the true scale and impact of these fires, and the devastation it causes. Insurers are working hard to support affected customers and have made plans to revisit Victoria for face-to-face consultations in the coming weeks. For anyone who has suffered a loss but has not yet made a claim, I would encourage them to contact their insurer to start the claims process, even though the full extent of the loss is still unknown.”
Federal Member for Bendigo Lisa Chesters MP added: “I am grateful for the support from the organizations and service providers who are providing assistance to community members affected by the fires in Mount Alexander Shire.
“As residents recover from this catastrophic event, the government is working with councils and service providers to help those affected. Insurance will play an important role in the recovery of our communities. In the days following the Ravenswood/Harcourt fire, it was vital that insurance industry representatives were on site and engaging with people face-to-face.”