Insurance companies,the banks and the government know what’s coming,but they don’t want to talk about it before it happens,mainly because they don’t know what to do about it.
The accelerating risk of climate disasters including floods,bushfires and storms means Sydneysiders in some parts of the city are paying over three times more for home insurance than others.
The state government-run insurance scheme,the Home Building Compensation Fund,was designed to help families such as the Ayres. The reality shows the safety net is too small.
Premiums are higher in the tropical north,and those who can afford cover have started lodging claims for flood damage.
Many Australians seeing images of the devastating blazes in Los Angeles might wonder if the houses are being built in a way that makes them combustible.
The Brisbane City Council has changed the status of several thousand properties – with some new additions meaning higher insurance premiums.
The agency in charge of domestic building insurance has been canvassing premium hikes and ways to cut claims in an effort mend its finances.
One of two directors of embattled building company Nicheliving has resigned from his second role – a position highly involved with the state’s political elite.
At least three people have accused the deregistered builder of removing items from their houses after striking a deal to get the homes finished on the taxpayers’ dime.
Families traumatised by decades of what they describe as “ticking time-bomb” plumbing pipes are pleading for compassion after being excluded from a deal to remediate newer homes.