At $4.5bn each year extreme weather is costing Australia three times as much compared with 1990s, insurers say
NegativeWorld Affairs

Extreme weather events in Australia are costing the nation a staggering $4.5 billion each year, a figure that has tripled since the 1990s, according to insurers. This alarming trend highlights the increasing financial burden on the country as natural disasters like floods, bushfires, and storms become more frequent and severe. The CEO of the insurance peak body warns that the trajectory of these costs is only expected to rise, underscoring the urgent need for better preparedness and response strategies to mitigate the impact of climate change.
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