australia natural disasters Archives

Australian home insurance prices climb due to climate change

September 2, 2022September 1, 2022 Logan B.

A new green paper report from Finity has shown that global warming is skyrocketing coverage costs. Climate change is having an impact worldwide, but it isn’t dolling out the pain equally, as Australian homeowners are discovering as their home insurance premiums rapidly climb, said a new Finity green paper report. The Australian coverage industry is experiencing increasing losses due to extreme weather events. The Australian home insurance industry has been experiencing rising losses from extreme weather-related events over the last decade, even accounting for exposure growth and inflation. This year…

Homeowners insurance in Australia may see considerable increases

February 14, 2013April 30, 2013

Some areas are being seen as higher risks for flooding, fires, and drought, among other perils. Australia is now experiencing some of the most fierce and extreme weather and natural events that have ever been recorded, causing many homeowners insurance customers to ask themselves whether they should expect to pay higher premiums in order to compensate from the increasing risks. The current summer in the country has been one of the most damaging single seasons on record. Many of the areas in the country faced scorching temperatures throughout the summer…