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In the period June 2006 to December 2011, there was an average of 21 claims per year for wind damage.
This average is elevated as there were 45 claims in 2009 and 38 in 2010. The average value of wind
damage claims over the period was $6,284.74 per claim.
In the same period, there were was an average of 29 claims per year for other natural hazard claims, e.g.
lightening, earthquake. The total cost of claims amounted to $1.13 million with an average claim of
$6,478 per claim.
Claims for flood damage were minor, with a total of 2 claims in the 6 year period with an average value of
$1,214 per claim.
The data has limitations:
x
The boundaries of the region are not clearly defined.
x
The data does not encompass all industrial and commercial premises. Many national companies
insure their South Australian operations/sites from another state as part of a portfolio of sites. By way
of example, this would include supermarkets, larger transport companies and bulky goods stores.
13.3. Public Insurance
13.3.1. State Government
State Government assets are predominately insured through SAICORP, the insurance arm of SAFA. Only
roads are not covered by any insurance arrangement, as the high replacement and insurance costs make
them currently uninsurable.
Government agencies including SAICORP were contacted to provide asset values and insurance
information. With the exception of SAPOL, this information was not made available during the course of
this project.
13.3.2. Local Government
Pursuant to Section 142 of the
Local Government Act 1999
, all Councils are required to maintain
insurance coverage for civil liabilities at a minimum level of $50 million. All 68 Councils across South
Australia maintain this insurance through the LGA Mutual Liability Scheme. Local Government Assets
are covered through the LGA Asset Mutual Fund. The Asset Mutual Fund was established in 2002 and
provides a level of protection to physical assets of Councils such as (but not limited to) property,
structures, computer equipment and machinery
39
.
Specific exclusions from coverage through the Asset Mutual Fund vary from Council to Council, however
generally include:
x
Roads
x
Footpaths
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