The catastrophic bushfires have swiped out half a billion (480 million) of the animal population and had killed 25 individuals as of now.
Around two thousand homes have been destroyed in the deadly Australian wildfires that has ripped more than 8 million hectares of land in New South Wales and Victoria. According to reports, the bushfires have wiped out 480 million animals, killing at least 25 people.
With temperatures rising due to the bushfires, forecasters fear more fires are expected which is likely to form a new “mega blaze” along the New South Wales border.
The cloud of smoke caused by the wildfires was spotted as far as in Chile and Argentina.
An estimated $485.59 million or more will be required to cover the damage caused by the catastrophic bushfires, as per the reports of Insurance Council of Australia.
Australian Prime Minister Scott Morrison recently instituted ''National Bushfire Recovery Agency''.
An insured loss of $375 million has been estimated as 5,850 fire-related insurance claims have been lodged since early November last year.
PM Scott Morrison is set to meet insurance and bank executives to discuss the ongoing crisis.
Watch: Australia Bushfires: Scott Morrison announces new recovery agency