Terrorism and Cyclone Insurance (End of Cyclone Event – Tropical Cyclone Zelia - (20250215)) Instrument 2025

Overview

The Terrorism and Cyclone Insurance (End of Cyclone Event – Tropical Cyclone Zelia - (20250215)) Instrument 2025 was enacted by Christopher Wallace, the Chief Executive of the Australian Reinsurance Pool Corporation, under a delegation of authority provided by the Terrorism and Cyclone Insurance Act 2003. This instrument serves to officially conclude the declaration of a cyclone event that was initiated with the Terrorism and Cyclone Insurance (Beginning of Cyclone Event – Tropical Cyclone Zelia – (20250212)) Instrument 2025. By declaring the end of the cyclone event caused by Tropical Cyclone Zelia on 15 February 2025 at 4:00 AM [AEST], the instrument ensures a clear and timely conclusion to the period of heightened insurance claims and coverage related to the cyclone. Additionally, it sets a definitive end to the claims period, which will conclude on 17 February 2025 at 4:00 AM [AEST], thus providing clarity and structure for the administration of claims and reinsurance activities within the framework established by the Terrorism and Cyclone Insurance Act 2003.

Scope and Application

The Terrorism and Cyclone Insurance (End of Cyclone Event – Tropical Cyclone Zelia – (20250215)) Instrument 2025 applies to all entities and individuals involved in the insurance transactions related to the specified cyclone event, namely Tropical Cyclone Zelia. The instrument is issued under the authority of the Terrorism and Cyclone Insurance Act 2003 and is executed by Christopher Wallace, the Chief Executive of the Australian Reinsurance Pool Corporation, acting on behalf of the relevant Commonwealth authority. This instrument marks the conclusion of the previously declared cyclone event, specifying that it ended on 15 February 2025 at 4:00 AM [AEST], and sets the definitive timeline for the claims period, which will close on 17 February 2025 at 4:00 AM [AEST]. The geographic reach of this instrument is national, applying across all states and territories of Australia, as it pertains to the management and resolution of insurance claims arising from the cyclone event. This instrument does not detail any exclusions, exemptions, or thresholds, and its application is strictly defined by the dates and conditions set out within its provisions.

Key Provisions

The main operative sections of the F2025N00140 Notifiable Instrument pertain to the declaration and end of a cyclone event, specifically Tropical Cyclone Zelia, and the associated claims period. Section 1 of the Instrument declares that the cyclone event declared under a previous Instrument has ended. It specifies the exact time the cyclone ended, which was 4:00 AM [AEST] on 15 February 2025. Furthermore, Section 2 of the Instrument establishes that the period for making claims related to this cyclone event will conclude at 4:00 AM [AEST] on 17 February 2025. The obligations imposed by this Act are primarily on the Australian Reinsurance Pool Corporation and potentially on insurance claimants. The Chief Executive, Christopher Wallace, acting under subsection 8F(2) of the Terrorism and Cyclone Insurance Act 2003, is responsible for making this declaration based on a notice from the Bureau of Meteorology. This declaration must be made promptly and accurately to ensure that all stakeholders are informed of the end of the cyclone event and the closing date for claims. Additionally, claimants must ensure their claims are lodged within the specified period to be eligible for any insurance coverage. There are no explicit offences, penalties, or civil/criminal consequences outlined in this particular Instrument for breaching the deadlines or failing to comply with the declared end of the cyclone event and claims period. However, failure to lodge claims within the stipulated timeframe could result in the denial of insurance coverage, which would be a significant consequence for affected parties. The penalties and consequences for non-compliance would be governed by the terms of the individual insurance policies and the broader provisions of the Terrorism and Cyclone Insurance Act 2003.