All Australians will foot the bill after climate disasters leave insurance industry on the brink
All Australians will foot the bill after climate disasters leave insurance industry on the brink
Floods, bushfires, and severe storms send insurance costs skyrocketing. It's high time for Australia to heed warnings from other parts of the world before insurance becomes unaffordable for all Australians — or simply unavailable.
The combination of climate-fuelled natural disasters coupled with increasing populations often living in risky areas is threatening the global insurance industry.
This isn't theoretical for Australians. Bushfire and flood disasters during the past few years have seen insurance premiums skyrocket.
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@silence7
Insurance industry on the brink ? They made record profits last year and flooding in northern Australia is now stupidly underwritten by the federal government.----
Australia's QBE Insurance annual profit more than doubles
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The industry itself is hugly profitable, the real question is, how much longer can this ponzi insurance last ?
Australins are some of the biggest climate deniers on the planet, with zero moves to making a sustainable continent. As an Australian my empathy lies with the impoverished in other parts of the world, which our emsisions are destroying.