Earlier today in estimates hearings, Greens Treasury spokesman Nick McKim asked Treasury secretary Steven Kennedy about climate change and insurance premiums. Senator McKim wanted to know if Dr Kennedy had turned his mind to the stresses in Australia's insurance industry, and what the government's balance sheet might look like in the future as it increasingly becomes an "insurer of last …
An abandoned car sits at an intersection of a flooded street on Tuesday in Surfside, Florida. To cover their losses, insurers are raising rates, restricting coverage or pulling out of some areas "because they're concerned about having to pay out so much as more of these weather-related catastrophes occur", Dave Jones, director of the Climate Risk Initiative at UC-Berkeley's Center …
Pensioners Kim and Dean Robertson are just one price hike away from abandoning the insurance on their house at Woodenbong in northern New South Wales. Key points: The Actuaries Institute says insurance premiums have jumped by 28 per cent One in eight Australian households are suffering insurance stress The institute says government inaction on climate change has exacerbated the problem …
It was 2:30am when the floodwaters seeped through the back door and into John and Dorothy McFadden's North Lismore home. One in 10 pushed to the brink One million households in Australia already face "extreme" levels of insurance stress and will bear the brunt of future premium hikes driven by climate change, new research has warned. Vulnerable households – defined …
