Australia’s worsening climate change may see insurance companies and banks withdraw their services from communities vulnerable to extreme events, potentially triggering “cascading effects” across the economy, a new government report warned. The government released its first National Climate Risk Assessment …
After a year of deadly wildfires around the globe, the world is burning again from Texas to Australia — and in some regions, the blazes are igniting early. Canada’s Alberta province said last month that wildfire season had already begun, …
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 …
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, …
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 …
The Insurance Council of Australia (ICA) welcomed the budget announcement from the state of Victoria of funding of A$517 million (US$401 million), which will be allocated across several bushfire risk reduction projects. However, the ICA emphasized that the projected growth …
The Insurance Council of Australia (ICA) has declared a catastrophe for the Perth Hills bushfires which continue to burn north-east of Perth. Insurers have received more than 270 claims and estimated loss value is over A$40 million (US$30.5 million), this …
Wildfires among ponderosa pines and Douglas firs of the U.S. West have long been part of nature’s cycle of renewal, as much as the changing of the seasons. But as climate change makes the region more arid, wildfires have grown …
Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. But while banks have been only too willing to …
