Ratings agency Standard and Poor's has declared it believes Australia's insurance industry will cope with the damages from the country's bush fires.
Standard and Poor's said yesterday it is monitoring the effect of the bushfire's on Australia's insurance industry and its impact on individual insurers.
The agency forecast the damages bill to exceed $A150m (£54m) and added that there is "no sign of an early end" to the crisis.
However it said it believes the industry can deal with the volume of claims without a affecting the industry's financial strength.
