If insurers won’t insure, should govt subsidize risks?

Climate News Links on March 16, 2022

As the costs to insurance companies to cover climate risks skyrocket, insurance becomes unafordable. Should governments subsidize high risk policies?

Lismore was inundated during the floods.

by Jess Davis, 11/03/2022 in ABC News

Should the federal government step in to keep insurance affordable after the floods?: As communities look to rebuild from the devastating floods many are concerned they will no longer be able to afford insurance, with calls for the federal government to step in and help.

Featured image: Floods in Brisbane also caused widespread damage.(Supplied: Jared Cassidy)

Views expressed in this post are those of its author(s), not necessarily all Vote Climate One members.

Extreme weather costs will hurt insurance co’s and you!

Climate News Links on March 16, 2022

Payouts for increasing damages from floods, wildfires, and winds hurt the insurance companies. They must choose to not insure the risk or recover costs from customers

Lismore locals clean up after their town was again inundated, this time by record flood levels.(AAP: Jason O’Brien)

by Michael Janda, 12/03/2022 in ABC News

Insurers brace for rising flood damage amid climate change, and they warn you should too: As New South Wales and Queensland clean up after what are likely to be the costliest floods in Australian history, insurers have a stark warning — prepare for things to get worse, especially along the east coast.

Featured image: Lismore floods regularly. This picture of the town is from the 2017 inundation.(ABC North Coast: Ruby Cornish) from the article.

Views expressed in this post are those of its author(s), not necessarily all Vote Climate One members.