Coalition’s $10bn scheme to curb rising insurance premiums in Queensland may not improve affordability

Coalition’s $10bn scheme to curb rising insurance premiums in Queensland may not improve affordability

The Guardian

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Government should focus on ‘disaster mitigation rather than clean-up’ as climate change events increase, industry experts say

A $10bn reinsurance pool, aimed at reducing expensive premiums in cyclone-prone north Queensland, will leave the government wide open for unexpected cost blowouts as climate change catastrophes increase, experts say.

Insurance premiums in northern Queensland have risen dramatically in recent years, as cyclones and floods become more frequent, forcing many people to abandon insurance entirely.

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