Disaster-prone areas of Australia, frequently hit by extreme weather events like floods and fires, could soon become uninsurable unless governments invest in mitigation measures to protect communities, insurers and experts are warning.
"We've seen this happen already in Queensland, where flood mitigation was built around the township of Roma, premiums reduced by 30 per cent," Mr Hall said.
The head of the federal government's disaster recovery agency, Shane Stone, told Nine papers n Friday that he wanted to see an end to floodplain development. Lismore is a town that is already effectively uninsurable. The town's last major flood was in 2017 and for many in the flood-prone city, insurance is simply too costly.
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