The Insurance Council of Australia says the estimated damage bill from Australia's bushfires has doubled in two days to surpass a total of $700 million.
Prime Minister Scott Morrison and Treasurer Josh Frydenberg will meet with the Insurance Council of Australia and bank chief executives to discuss the response to the bushfire crisis.
Scott Morrison said the surplus was"no focus" of his and emphasised he'd meet whatever cost necessary to help Australians get"back on their feet". "We want to get money out into these communities as fast as possible, because we want to help them rebuild, to recover and to be more resilient for the future," he told the ABC on Tuesday.
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