Floods Creating Insurance Chaos
Insurance claims are at an all-time high and continuing to rise, according to the Insurance Council of Australia (ICA), today said insurers have received 86,703 claims related to the floods in Southeast Queensland and New South Wales, pointing to a 28 per cent increase since Friday. The problem with these natural disaster insurance claims is the methods in which insurance claims are assessed; they are focused on risk assessment rather than considering the long term impacts of climate change, leaving many people vulnerable and unable to claim insurance if they haven’t payed extra for premium insurances.
Produced By: Elena Garcia Araujo
Featured In Story: Dr Paula Jarzabkowski – Professor of Strategic Management at The University of Queensland Business School, and
First aired on The Wire, Tuesday 8 March 2022