A national insurance crisis looms. The Morrison government's $10 billion 'pool' plan won't fix it

As climate change intensifies extreme weather events, home and building insurance premiums have been rising, particularly in Northern Australia.

As premiums rise, more people are choosing drop their insurance coverage, risking financial disaster when the next natural disaster hits.

The consequences of this are so dire that the Morrison government has committed A$10 billion to a “reinsurance pool” to bring home insurance premiums down in northern Australia.

It’s an attractive policy option — simple and quick. Though it exposes the government to potentially…

© La Conversation - mardi 6 juillet 2021