Ap Econ.docx - Australia is facing a massive bill from unprecedented deadly fires that have burned an area bigger than Belgium Insurers have received

Ap Econ.docx - Australia is facing a massive bill from...

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Australia is facing a massive bill from unprecedented, deadly fires that have burned an area bigger than Belgium. Insurers have received claims worth A$240m (£126m ; $165m) since October, and they expect the number will grow significantly. Medical bills from the fires and smoke haze could also run into the hundreds of millions. And one analysis suggests disruptions caused by the fire and smoke haze could cost Sydney as much as A$50m a day. The bushfires have killed eight people and destroyed 700 homes. There appears to be no reprieve in sight, as temperatures are expected to hit 40C on the weekend, stoking fears of more fires. The director of the Fire Centre Research Hub at the University of Tasmania, Prof David Bowman, has labelled them "absolutely transformative and unprecedented" and said they underscored a need for governments to rethink how they approach fires. Health costs Prof Bowman told the BBC the health bills from the current fires will run into the hundreds of millions of dollars. He said Tasmania faced A$25m in health costs from bushfires and smoke haze at the beginning of 2019, but that the current crisis was on a much bigger scale. Economic costs of Australia's bushfires. [ 700 houses have been destroyed by the fires. ], [ 2,306 insurance claims have been made up to mid-December ],[ A$240m is the value of those claims. ],[ A$12-50m is the estimated cost of disruptions due to smoke in Sydney. ], Source:

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