“I have today declared the siege a ‘terrorist incident’ for the purposes of the Terrorism Insurance Act,” Hockey said, as quoted by local media. “The Government has taken this action to ensure businesses that suffered damages from the incident will not be denied claims due to terrorism exclusions in their insurance policies."
According to the treasurer, three insurers have already registered claims, stating they would not apply terrorism exclusion clauses. He praised the companies for “acting so responsibly at this difficult time.”
In December, almost 20 people were held hostage in a cafe in Sydney. Police stormed the eatery after a 16-hour siege. Three people were killed, including the gunman.
Following the incident, Prime Minister Tony Abbott stated that the terror threat in the country remained high.