Australia has a comprehensive national database on property-level flood risk. But it is currently proprietary, meaning the public can’t access this valuable information.
- Lecturer, Monash University
Growing climate risk means growing costs of natural disasters. As premiums have risen by 300%, these are costs that households simply can’t afford.
Financial advice will always be more useful to those who can use super to minimise tax, but even households with small balances should seek guidance.
A report into the insurance sector’s response to the 2022 floods outlined a detailed pathway to reform. But these steps alone won’t solve the growing problem posed to Australian households by climate change.
A new study discredits the belief that most Australians have little understanding or interest in their superannuation.
Are we setting up individuals and families for ruin by allowing them to build back in areas where they can’t afford insurance? And should taxpayers bear the huge costs of future rescues and relief?
Natural disasters are driving up insurance costs. The Australian government’s plan to drive them down won’t help much.
The Morrison government’s reinsurance pool is the exact policy the Australian Competition and Consumer Commission recommended against.
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