..........The amount of jobs these fires have created is huge. The rebuilding effort etc etc. It's even better as the insurance companies will have to foot much of the rebuilding cost. So the government doesn't even have to pay a stimulus as the insurance companies will do it for them. ............
The UK financial press says that quite a lot of the risk borne by the Australian insurance companies was sold on to Lloyds of London. So there will be a lot of wailing and gnashing of teeth in London this year. The risk taken by the Lloyd's names is unlimited, so if they can't pay, everything they own is taken from them. Expect all your insurance premiums to be higher come renewal time. Also expect the insurance companies to be lobbying the Australian government for action to reduce the incidence of major fires like this. If the government don't take action, expect the insurance companies to refuse to take on the risk in certain areas, or make it so expensive that people can't afford it.
Something similar happened in the UK, but with floods. People living on flood plains just could not get/afford flood insurance, so the UK government had to set up a scheme to subsidise the risk. (Because that is cheaper than fixing the problem of course!!)