Latest Australia Headlines
All the headlines from our Australia Topic Page, ordered by recency.
La Nina Helps Fuel Monster Australian Cyclone Yasi
Feb 2 2011 // Record ocean temperatures and an intense La Nina weather pattern have helped spawn one of the most powerful cyclones in Australia but whether there’s a direct climate change link is less clear. Cyclone Yasi, a...
Queensland Hit by TC Anthony, Perth by TC Bianca – RMS Report
Feb 1 2011 // Tropical Cyclone Anthony made landfall over the coast of the Australian State of Queensland on Sunday, close to the town of Bowen, and approximately 275 miles (440 kms) southeast of Cairns. An analysis of the storm from...
Chubb Reports Q4, 2010 Results; Expects Australia Flood Losses
Jan 28 2011 // The Chubb Corp. reported that net income in the fourth quarter of 2010 was $620 million, compared to $695 million in the fourth quarter of 2009. For the year ended Dec. 31, 2010, net income was $2.2 billion, the same as in...
Insurance Council of Australia Takes New Initiatives in Wake of Floods
Jan 28 2011 // The Insurance Council of Australia (ICA) has reacted quickly to the disastrous flooding in the State of Queensland earlier this month with two new initiatives aimed at “developing a more effective and sustainable...
Australia Imposes New Tax to Fund Flood Recovery
Jan 27 2011 // Australia’s minority Labor government imposed a reconstruction tax and cut environmental spending on Thursday to help fund the recovery from this month’s devastating floods, and immediately ran into opposition...
Australian Flood Crisis Could Continue for 10 More Days
Jan 24 2011 // A vast lake created by floodwaters will spread across southeastern Australia and threaten rural towns in its path for up to 10 more days, an official said Saturday as the nation’s flood crisis continued to create...
Rising Rivers Swamp Another Australian Town
Jan 21 2011 // A surging river Thursday flooded and isolated the latest community hit in Australia’s deadly flood disaster, straining a levee serving as the main protection between the muddy waters and residents’ homes. The...
Barclays Warns Reinsurers at Risk from $6 Billion Australia Flood Insured Losses
Jan 19 2011 // Insured losses from the recent flooding in Australia could top $6 billion, and earnings estimates for Bermudan reinsurers are at risk as a result, Barclays Capital said Tuesday. Barclays analyst Jay Gelb cited early...
Australia Floods Could be Costliest Natural Disaster Ever
Jan 18 2011 // Floods that ravaged Australia’s northeast and swamped a major city could be the country’s most expensive natural disaster ever, the government said Monday. Flooding inundated new areas in the south Monday,...
Australia Begins Flood Cleanup; Insurer Compassion Urged
Jan 14 2011 // Australia’s third-largest city started cleaning up stinking mud and debris on Friday after some of the country’s worst floods on record, but in a sign of the task ahead, it could take six months to pump flood...
Australia Floods Inundate Brisbane; 16 Dead
Jan 12 2011 // Massive floods shut down the centre of Australia’s third-largest city, sent thousands fleeing from their homes and sparked panic buying of food on Wednesday as rescuers searched for 43 people missing in...
Australian Floods to Cost Insurers, Reinsurers $1 Billion
Jan 12 2011 // The devastating floods in Queensland state that forced evacuation in Brisbane, Australia’s third-largest city, are expected to be a near $1 billion event for insurers, though reinsurance is seen covering more than...
Insurers, Industries Affected by Australia’s Floods
Jan 11 2011 // Australia’s mining industry has borne the brunt of the economic impact from massive floods in Queensland state, but agriculture, construction, transport, tourism and retail have also been hit. Following is a list of...
Floods Head for Australia’s Brisbane, Many Evacuate
Jan 11 2011 // Authorities urged thousands of residents to leave the outskirts of Australia’s third largest city on Tuesday as others sandbagged homes and stockpiled food in anticipation of rising floodwaters and further heavy...
Brisbane Faces Flash Flood Threat
Jan 10 2011 // Residents in Australia’s third largest city, Brisbane, sandbagged their homes against rising waters on Monday as torrential rain worsened floods that have paralyzed the coal industry in the northeast and now threaten...
Australia Flood Damage Seen as Long-term; Rail, Road Links Destroyed
Jan 7 2011 // Australia’s flood-stricken coal industry may be disrupted for months after key rail and road links were washed away, while some infrastructure could take years to repair, authorities said on Friday. The floods have...
Omega Raises NZ Quake Estimates to $16.8 Million; Australia Floods
Jan 7 2011 // Bermuda-based Omega Insurance Holdings Limited, which is also a leading LLoyd’s insurer, has issued a revised estimate of the losses it expects to incur from claims related to the earthquake, which struck New Zealand...
Swiss Re Concludes $170 Million Successor X Cat Bond Placement
Jan 5 2011 // Swiss Re has obtained another $170 million in protection through the Successor X Ltd. catastrophe bond program, covering Australia earthquake, North Atlantic hurricane and California earthquake risks. “The...
Australia Floods Cause ‘Catastrophic Damage’
Jan 5 2011 // Australia’s record floods are causing catastrophic damage to infrastructure in the state of Queensland and have forced 75 percent of its coal mines, which fuel Asia’s steel mills, to grind to a halt,...
Relief Flights Reach Flood Stricken Australian City as Waters Rise
Jan 4 2011 // Military flights rushed Monday to restock an Australian city before it is cut off by floodwaters that have turned a huge swath of the Outback into a lake, while police confirmed two more deaths in the crisis. Drenching...
