‘We’re now seeing that the system is not able to cope with climate change,’ insurance analyst says
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When Kim Sly moved to a lower-lying area of Forbes four years ago, she was asked to pay $12,000 a year for flood insurance.
The bill was a shock. Her new home was built 1.2 metres above the ground to protect it from floods, a factor that did not seem to influence the insurance company’s assessment.
Continue reading…‘We’re now seeing that the system is not able to cope with climate change,’ insurance analyst saysFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastWhen Kim Sly moved to a lower-lying area of Forbes four years ago, she was asked to pay $12,000 a year for flood insurance.The bill was a shock. Her new home was built 1.2 metres above the ground to protect it from floods, a factor that did not seem to influence the insurance company’s assessment. Continue reading…