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 Morrison government’s reinsurance pool is the exact policy the Australian Competition and Consumer Commission recommended against.
Residents, friends and volunteers work to hold back floodwaters on the Ottawa River in Constance Bay, Ont., earlier this week. THE CANADIAN PRESS/Sean Kilpatrick.
THE CANADIAN PRESS/Sean Kilpatrick
Climate change will increase the risk of owning properties in coastal cities like Miami – but the insurance industry is
Water from Addicks Reservoir flows into Houston neighborhoods following hurricane Harvey in August. Allstate expects US$593 million in insurance losses for August due to the hurricane.
(AP Photo/David J. Phillip, File)
Insurance-linked securities aim to shield insurers and governments from huge costs following disasters. But they bear eerie similarities to the securities that caused the 2008 financial meltdown.
Hurricane Wilma in 2005 was the last major storm to rock Florida – and its insurance market.
Carlos Barria/Reuters
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.
The government’s long-awaited plans on how to help the insurance industry provide flood insurance to those homes and properties most at risk was presented. They are promising, but have fundamental shortcomings…
As natural disasters happen more often, rising insurance premiums will force the private sector to take action on climate change.
AAP
Hurricane Sandy may or may not be a direct result of climate change, but what is certain is that the incidence of extreme climate events is increasing. Such events are predicted by climate models, according…