QBE: Severe weather reduced small businesses by 9% in Australian communities two years post-event

Research by QBE found that severe weather shocks result in persistent losses for small businesses, widening a recovery gap in local economies. Two years after an event, affected Australian communities had about 9% fewer small businesses, equating to approximately $43 million in forgone annual activity. High-severity events led to sharper damage, with business counts estimated 21% below expected levels two years post-disruption.