abc.net.au/news/flood-insurance-eugowra-nsw-damage/101756508As beeping trucks and heavy machinery collect flood debris strewn down her street, Eugowra resident Alison Teml surveys the damage to her home.Flood and storm insurance claims since 2020 have topped $12.3 billion, according to the Insurance Council of AustraliaExperts say government-backed "reinsurance pools" could provide coverage for every Australian"It just looks like a bomb's hit the house.
Paula Jarzabkowski, a disaster risk finance expert from the University of Queensland School of Business says it's not surprising that people were opting out of insurance in flood-prone regions like Eugowra. "We have less natural means for the flood water to run off, [and a] more built environment, exacerbating the flash-ness of the flooding," she says."Those houses that were already perhaps a bit prone or not in optimum areas have now become much worse areas."
Move to higher ground
Eugowra has regularly flooded for ages. Its no secret. Either jack-up the house or live somewhere else. If rebuilding, build with future flooding in mind.
At very least for those living in uninsurable & unaffordable premium homes govt should set a premium that would be paid by person not in flood or fire prone area to be paid before any taxpayers money is given out for replacement of belongings or rebuilding. abcnews SkyNewsAust
Japan-style tsunami walls? 😏
Stop using weather as a weapon would be a start
Yes 👍 get rid of Government…
Perhaps the government should stop cloud seeding for land grabs.
90 years old, getting cranky.
Sadly, the scale of changes coming is just too large for folks to grasp. Previously safe areas are now unsafe, previously maintainable roads, too expensive, previously viable farms, unviable. Insurance will not cope and it will always stash profits and delay necessary investments
what 'climate change'? where? CO2 is greening Earth, CO2 has never been shown to drive climate
No
Who would park their car below the high tide mark on a beach? Similarly, what kind of fool builds a house on a flood plain?
just odd they avoided paying insurance then when they got flooded they are asking gov cash bailout They did not pay insurance levy but they r asking for a bailout
Simple solution: Don't build in flood plains
Absolutely shocking uninsurable really! It’s time our government insure us send these greedy insurance companies packing it’s fine they take our money. Mr albo insure us all it will eventually happen to all Australians
Yes. Don’t build houses on flood plains. The hint is in the name.