Catastrophe Insurance


At Honan, we often receive queries from strata management and owners· corporations wondering if they have cover for catastrophic events when catastrophe cover has not been selected in their insurance policy. It is a common misconception that cover will not extend to any catastrophic event without this section of cover selected. In this article, we break down all things Catastrophe Cover, including the classification of a ‘catastrophe·, how catastrophe insurance works, and how you can secure coverage.


While it is common to refer to large weather events as ‘catastrophes·, the formal insurance definition of a catastrophic event is: .. an Event which is sudden and widespread and which causes substantial damage to property over a large area, and as a result of which the Insurance Council of Australia issues a catastrophe code”. In simple terms, if the Insurance Council of Australia [ICA] does not declare a specific event a catastrophe, then it is not classed as one, regardless of the extent and reach of the damage caused. 

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