As Australia's deadly bushfires rage, many companies are reporting hits to ...
SYDNEY - As Australia’s deadly bushfires rage, many companies are reporting hits to business with resorts shutting their doors, cheesemakers struggling to secure milk supplies and insurance claims on the rise.
As many as 5,850 fire-related insurance claims have been lodged since early November with insured losses estimated at A$375 million , according to the Insurance Council of Australia . However, with conditions still too dangerous in many areas, the full cost of the disaster is not expected to be known for several weeks.
Aspen Group , which owns tourist parks in idyllic beach towns like Tomakin on the NSW south coast, said on Monday it has turned away holidaymakers from its rentals as a result of the fires and expects a hit of at least A$500,000 to its revenue. “Tourists and residents have been asked to leave the region. It is not known when trading conditions will return to normal,” it said, although none of its properties have been affected by the fires.
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