Project description

New research has found there are several steps insurers can take to improve the way they assess and manage the impacts of climate change on the community. The escalating frequency and severity of extreme weather-related events have shone a brighter regulatory spotlight on insurance risk and climate change, and all eyes in the insurance industry are on Australia as it enters its summer season this year. The Bushfire and Natural Hazards Cooperative Research Centre is forecasting above-normal fire conditions for parts of Australia this summer. Last year, record-breaking temperatures and months of severe drought fuelled a series of massive bushfires across Australia. More than 11 million hectares were devastated, and insured losses were estimated at up to A$1.9 billion.

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Project outcome