Earthquakes - The Australian Experience

Australia is not on the edge of a tectonic plate but still experiences earthquakes as the Indian Australian plate is being pushed north against the Eurasian, Philippine and Pacific plates.

Adelaide in South Australia has the highest earthquake hazard of any capital city.

One of Australia's largest earthquakes was an 8.1 recorded on 23 December 2004 with its epicentre in the Southern Ocean north of Macquarie Island. Shaking was felt in Tasmania and New Zealand.

One of the most recent was a 5.0 on 20 April 2010 at Kalgoorlie-Boulder in Western Australia. Numerous buildings were damaged. News reports indicated it was the strongest earthquake recorded in the Goldfields region of Western Australia in 50 years.

The most devastating was the Newcastle Earthquake which occurred on 28 December 1989 with a magnitude of 5.9.

Thirteen lives were lost, 160 people were hospitalised, 50,000 buildings were damaged and 300 buildings were demolished. The damage bill was estimated at approximately AUD$4 billion.

Insurance is one risk management tool available to manage natural disasters such as earthquakes. Although no-one wants to make such a claim when they do it is important for the claim to be resolved promptly and efficiently and to make the insurance policy work.

Other Articles Which May be of Interest: -

Earthquake Claims Checklist

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Published with permission of Claim Solutions Pty Ltd.

Insurance Policy

Country: - Australia.

Policy Description: - Mark IV Industrial Special Risks (ISR) policy.

Insurer: - Not specified.

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