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By ESS News
Suncorp, which offers insurance in Australia and New Zealand, reports that Lithium-Ion battery fires contribute to higher costs for house insurance. The insurer said that the higher number of battery-related losses contributes to pressure from natural disasters and theft, whereby premiums for home insurance will increase by 9.4% in 2024-25. April and May 2025 were the months with the highest value of fire claims, many connected to lithium-ioninincidents.
In his latest financial reporting, Suncorp CEO and director Steve Johnston noted that the share of the claims over Aud 500,000 ($ 325,000) with Lithium-ion ion ionic sources over five years has doubled, rose from 9% to 18%. Various cases resulted in the total loss of houses or apartments.
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