Extreme weather dominates Australian school property claims - Education Matters Magazine

All Topics, Finance, Latest News, Research and Reports, Resources

Extreme weather dominates Australian school property claims

Australian schools have faced the impact of extreme weather events over the past decade, with 78 per cent of all property insurance claims resulting from the ‘big three’ – storm, fire and floods, according to new data released in October.

The analysis forms part of QBE’s Safeguarding Australian Schools report that delves into property claims data over the past 10 years, revealing insights into the challenges and mitigation efforts needed to safeguard Australia’s independent education sector.

Ms Patricia Priest, General Manager, Commercial, at QBE Australia Pacific, said a series of severe weather systems driven by  record-breaking La Niña rain events coupled with dry El Niño weather patterns have impacted schools by damaging classrooms, destroying sports grounds, and impairing key infrastructure.

“The true extent of the severe weather isn’t realised in many instances until teachers and students head back to school after the summer break to discover leaking roofs, damaged carpets, equipment failures and maintenance issues that have been left unattended over the holidays,” she said.

The data reveals that the year’s shortest month is also the most damaging, with February accounting for more than a quarter of all school property insurance claims. The costliest year across the report’s data was 2022, the third consecutive year in a rare ‘triple-dip’ La Niña and more than $40 million in claims were paid to schools with QBE insurance.

“We know extreme weather events are increasing in severity and frequency, so it’s important for schools to get proactive with their maintenance with many storm-related claims potentially avoided through routine upkeep, such as clearing gutters and drains,” Ms Priest said.

The report includes state-by-state comparisons, showing that Queensland has the highest average claim amounts, followed by Tasmania and the Northern Territory, while New South Wales recorded the highest number of claims overall.

QBE is looking at how it can support schools with their sustainability goals through ESG frameworks and advanced risk mitigation strategies.

“We want to help schools navigate emerging risks, maintaining a safe, compliant and resilient environment for students, staff and the broader community. QBE remains a steadfast partner, dedicated to enhancing the safety and operational efficiency of Australia’s educational institutions now and into the future,” Ms Priest said.

Download the Safeguarding Australian Schools report here.

QBE is listed on the Australian Securities Exchange (ASX) and headquartered in Sydney. It employs more than 13,000 people in 27 countries. QBE is a general insurance and reinsurance company. Across its operations it offers commercial, personal and specialty products and risk management solutions to its customers. Its purpose is to enable a more resilient future.

Send this to a friend