Australia must urgently adapt to extreme weather or face soaring premiums, insurers warn

Exclusive: Assistant treasurer says insurers warned government ‘you’ve got five years’ to reduce vulnerability to climate crisis

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Global insurers say Australia is running out of time to reduce its vulnerability to the climate crisis and faces higher premiums for households and businesses.

“They said, ‘you’ve got five years basically’,” said the federal assistant treasurer, Stephen Jones, who led a delegation last month to insurance centres in London and Munich.

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