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

Extreme weather is costing Australia a staggering $4.5 billion each year, which is three times more than in the 1990s, according to insurers. This alarming trend highlights the increasing financial burden of climate change on the nation, with experts warning that costs are only expected to rise. Understanding these figures is crucial as they reflect not only the immediate economic impact but also the long-term implications for communities and the environment.