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 will experience an increase in extreme heat, intense rainfall and coral-bleaching events, as well as longer fire seasons and more rapidly rising sea levels, according to the government’s chief science and weather agencies. In a dire report released Wednesday …
The Insurance Council of Australia (ICA) welcomed the budget announcement from the state of Victoria of funding of A$517 million (US$401 million), which will be allocated across several bushfire risk reduction projects. However, the ICA emphasized that the projected growth …
The Insurance Council of Australia (ICA) has declared a catastrophe for the Perth Hills bushfires which continue to burn north-east of Perth. Insurers have received more than 270 claims and estimated loss value is over A$40 million (US$30.5 million), this …
Wildfires among ponderosa pines and Douglas firs of the U.S. West have long been part of nature’s cycle of renewal, as much as the changing of the seasons. But as climate change makes the region more arid, wildfires have grown …
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 risks worse wildfires than this season’s record-breaking blazes unless it reduces emissions and phases out fossil-fuel exports, climate scientists warned. In a report titled “Summer of Crisis,” the Climate Council lobby group said Australian governments ignored warnings from scientists …
Climate change is adding to the risk of fierce wildfires in Australia, according to a scientific study of this season’s blazes that razed an area the size of England and killed dozens of people and more than a billion animals. …
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’s central bank chief Philip Lowe warned of wide-ranging economic and financial impacts from climate change, after his drought-stricken nation suffered some of its worst wildfires ever. Speaking on a panel with his Canadian counterpart, Lowe pointed out that drought …
