The first estimated insured losses for the bushfires have been pegged at $20 million.
The figure is expected to rise over the coming days as those evacuated return home and damage assessments continue.
“At least 30 homes and other properties have been lost, and insurers have also received reports of stock losses, as well as fencing and other farm equipment,” ICA CEO Rob Whelan said of the damage.
The hardest hit area so far has been the Warrumbungle Shire in the central west of New South Wales. Communities close to Port Macquarie, Kempsey and Narrabri have also suffered losses, Whelan confirmed.
The ICA and its members are working with the NSW Government, local councils and emergency services to assist policyholders.
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The Insurance Council of Australia (ICA) has declared an insurance catastrophe for bushfires that tore through New South Wales last weekend.