Australian home insurance premiums jumped the most in two decades in the past year, driven by weather catastrophes and higher building costs, new research showed. Median home insurance premiums surged 28% to A$1,894 ($1,240) in the year to March 31, …
Australia’s mounting extreme weather events threaten to make home insurance premiums unaffordable for an estimated 1 million households. On average, Australians living in high-risk areas like northern Queensland pay A$3,000 ($2,100) in annual premiums, or double that of residents in …
SYDNEY — One of Australia’s largest pension funds on Monday agreed to settle a landmark climate risk litigation filed by a 25-year-old member who alleged it was failing to protect his retirement savings against climate change. REST acknowledged in a …
Only a year after losing their homes to floods in parts of Australia’s north eastern coast of Queensland, people are moving into new houses built on or near the same plots. But while banks have been only too willing to …
Australia’s prudential regulator said on Monday it was looking to better understand the financial risks of climate change and would begin undertaking deeper assessments of the industry’s vulnerabilities to improve resilience. The Australian Prudential Regulation Authority (APRA) will develop industry …
Australia urged nearly a quarter of a million people to evacuate their homes on Friday and prepared military backup as authorities said the next few hours could be “very, very challenging” even as rain poured down in some parts. Defense …
Australia’s corporate regulators will be subjected to a new oversight body in a shake-up of the banking sector recommended by a high-powered independent inquiry into financial sector greed and malpractice. The government-appointed inquiry known as a Royal Commission also recommended …
A boom in consumer drone sales has spawned a counter-industry of start-ups aiming to stop drones flying where they shouldn’t by disabling them or knocking them out of the sky. Dozens of start-up firms are developing techniques – from deploying …
When Insurance Australia Group, the country’s largest general insurer, announced ambitious plans in June to ramp up its business in Mainland China, several institutional investors including Jason Kim were seriously concerned. Kim, a portfolio manager at Nikko Asset Management which …
Nearly a year after embarking on a multi-million dollar quest to solve one of aviation’s greatest unsolved mysteries, authorities and search teams are being criticized over their approach to finding Flight MH370 in the remote southern Indian Ocean. The Australian-led …
