"Bushfires may not affect the bottom line for insurers, but...

"Bushfires may not affect the bottom line for insurers, but fickle investor sentiment is a different matter. "

Agree entirely. I have noticed that every time there is an extreme weather event like flood bushfire, cyclone etc. Suncorp always takes a SP plunge. With media coverage always giving the impression that things are worse than they really are.
The insurers know their game and are covered for disaster payouts. With the overcorrection that happens very time I think it could be a buying opportunity, although SUN has had an extraordinary rise of late,