It’s not a question of if insurance will become unavailable or unaffordable in areas at high risk of wildfires, hurricanes and other damage – it’s a question of when. A disaster risk expert explains.
The differences between owners and the growing number of renters, and between rural and urban areas, point to explanations other than affordability for the one-in-two Australians who are underinsured.
People are taking on larger future risks and costs just so they can buy a house. Increases in new home owners are seen as a positive development, but what if they can’t afford the ongoing costs?
Even though Hurricane Matthew has been downgraded to category 3, it’s expected to cause substantial damage to Florida and other states in the region. The question is, who pays.
Lecturer and Research Fellow, School of Geography, Planning, and Spatial Sciences. Coordinator, Education for Sustainability Tasmania, University of Tasmania