The Insurance Council of Australia (ICA) has declared a Significant Event for the severe bushfires impacting Victoria since 7 January 2026, as state fire authorities continue to battle uncontrolled blazes and total structural losses climb past 350.
The ICA said its preliminary catastrophe response has now been activated, enabling the council and insurers to begin assessing the insurance impact of the widespread fires.
The blazes have burned in dozens of locations across Australia for several days, mainly in Victoria but also in parts of New South Wales.
Victoria’s Premier Jacinta Allan said over the weekend that 30 fires were active across the state, with 10 classified as fires of particular concern.
She added that more than 350,000 hectares had been burnt and confirmed that one person had died.
Under a Significant Event declaration, the ICA has commenced its claims data collection, analysis, and reporting processes in consultation with members.
This event may be escalated to an Insurance Catastrophe if there is a significant increase in claim numbers or complexity, or in consultation with insurers.
ICA Director of Mitigation and Extreme Weather Response, Liam Walter, commented, “Insurers’ first priority is community safety, and we strongly encourage all Victorians to follow the advice of emergency services.
“This Significant Event declaration extends to all of Victoria, allowing the ICA to monitor claims across the entire state. While it’s too early to estimate the total damage bill of these fires, insurers stand ready to assist impacted policyholders in their recovery. The ICA is in close and ongoing conversation with local response agencies.”
Elsewhere, Suncorp recently disclosed that it received around 60 home and motor claims from bushfires in Victoria as of January 12th.
Suncorp CEO Steve Johnston commented, “Bushfire risk remains high across southern Australia, particularly Victoria, and we are closely monitoring from our Disaster Management Centre in Brisbane.
“We are utilising satellite imagery to evaluate the damage ahead of our teams being able to be safely on the ground.”
