Global natural disaster events to the end of Q3 2022 caused total economic losses estimated minimally at $227 billion – of which $99 billion was covered by public and private insurers, which means that insured losses will top $100 billion …
Australian banks may have to rethink whether they sell mortgages in areas prone to extreme weather events, the chief executive of the country’s second-biggest lender said on Tuesday as thousands of homes in Melbourne were evacuated. Ross McEwan, chief executive …
Thousands of people across Australia’s southeast were asked to evacuate their homes on Friday, including some in a western suburb of Melbourne, after two days of incessant rains triggered flash flooding and fast-moving waters burst river banks. Large parts of …
Heavy rains eased across Australia’s east on Monday, a slight relief for flood-weary residents but authorities warned another intense weather system could hit several inland regions bringing more downpours and triggering flash flooding. Northern Victoria state, southern New South Wales …
Australia’s mounting extreme weather events threaten to make home insurance premiums unaffordable for an estimated 1 million households. On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in …
Insurers have received 8,415 claims as a result of July’s floods in Sydney, carrying an initial estimated insurance price tag of A$97.9 million (US$66.8 million), according to the Insurance Council of Australia (ICA). The ICA said 84% of the claims …
A wild storm system has moved away from Sydney after pounding Australia’s largest city with four days of torrential rain, satellite images showed on Wednesday, although river waters stayed above danger levels, forcing more evacuations. The year’s third major flooding …
MELBOURNE — Torrential rain is lashing Australia’s southeast coast, forcing thousands of people from their homes because of the danger of floods and landslides in a region battered by major flooding four times in the past 18 months. Some areas …
Thousands of people on the outskirts of Sydney were told to leave their homes or prepare to evacuate as days of torrential rain leads to widespread flooding. With more bad weather on its way, authorities issued dozens of evacuation orders …
The storms and floods that hit South-East Queensland and coastal New South Wales in February and March are likely to be Australia’s costliest floods on record, according to the Insurance Council of Australia (ICA). Using updated data, the ICA said …
