Median premiums across all areas rose 28% in the year to March, and actuaries warn climate disasters are driving them to unaffordable heights
Follow our Australia news live blog for latest updatesGet our morning and afternoon news emails, free app or daily news podcast
Home insurance premiums have climbed by 50% in high-risk parts of Australia as global heating increases the frequency and cost of climate disasters, a new report has found.
The Actuaries Institute’s research on home insurance affordability and funding for flood costs, released on Monday, found median home insurance premiums rose by 28% in the year to March, sitting at an average of $1,894 across all states.
About Author
More Stories
Chaos on German autobahns as Google Maps wrongly says they are closed
Gaza is ‘hungriest place on Earth’ with all its people at risk of famine, says UN
Irish whale-watching company ends tours on south Atlantic coast and blames overfishing