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https://theconversation.com/climate-change-is-already-putting-the-heat-on-insurance-companies-aucklands-floods-could-be-a-turning-point-198764>
"The clean-up from Auckland’s devastating floods last week is just beginning
but insurance companies will need to start thinking about what the
record-breaking weather event will mean for future coverage.
Over 24 hours, 249mm of rain fell across the Auckland region – well above the
previous record of 161.8mm. Around 5000 homes were damaged across 25 suburbs,
with more than 100 properties declared uninhabitable in the aftermath of the
storm.
In the short term insurers have needed to provide support according to
individual policies – for some this will include accommodation support while
homes are uninhabitable, as well as assessment of final payouts.
But in the longer term insurers will now need to consider whether parts of
Auckland will become significantly more expensive to insure. In the worst case
scenario, the weekend’s floods might mean some sections of the city become too
expensive to insure by mainstream insurance companies."
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
