Australians bracing for a return of scorching heat and wildfires are instead battling a prolonged deluge of rain across the country’s east that’s inundated homes and damaged crops from sugar to wheat. Vast areas of the country’s populous eastern states …
Heavy rains and flooding across Australia’s southern state of Victoria has damaged crops and stranded cattle as a months-long run of wild weather on the nation’s east coast leaves a trail of destruction. Severe storms have lashed Victoria since October, …
Nine people have died in Australia after severe storms lashed the nation’s east coast on Christmas Day and Boxing Day, with the Bureau of Meteorology warning there is a risk of more flash flooding even as the weather system moves …
Increasing numbers of Australians are abandoning their insurance policies as premiums surge in response to climate-linked natural disasters, the head of the Insurance Council of Australia said. Over a million households now face home insurance affordability stress, Andrew Hall said …
Australian home insurance premiums jumped the most in two decades in the past year, driven by weather catastrophes and higher building costs, new research showed. Median home insurance premiums surged 28% to A$1,894 ($1,240) in the year to March 31, …
Insured losses for floods that hit Southeast Australia in October 2022 have risen to A$907 million (US$600.2 million), according to PERILS, the independent Zurich-based organization that provides industry-wide catastrophe insurance data. This updated loss figure for the floods, which occurred …
Natural disasters in 2022 brought global economic losses of US$275 billion, of which insurance covered 45%, or US$125 billion, according to Swiss Re’s latest sigma report. Claims from Hurricane Ian in Florida, record breaking losses from hailstorms in France, floods …
Public data on natural disaster risks for homeowners and businesses will be crucial for making Australia’s economy more resilient to climate change, according to the head of sustainable finance at National Australia Bank Ltd. There’s a growing collective effort by …
Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a report published by Swiss …
Australia will experience an increase in extreme heat, intense rainfall and coral-bleaching events, as well as longer fire seasons and more rapidly rising sea levels, according to the government’s chief science and weather agencies. In a dire report released Wednesday …
