The insurance council of Australia has urged federal and state Governments to change building standards to better suit the damage being done by “extreme weather events”
The insurance council representing their members (Australian insurers like Allianz, ING, lloyds, Suncorp and Zurich) in a submission to an intergovernmental review of building standards, believe that without changes to the standard “Australia will continue to produce “brittle” buildings that will be progressively more difficult for Australians to insure in an environment where the everyday risk of extreme hail, wind, fire and flood have increased.”
The insurance council warns that some insurers may limit there coverage of property in high risk areas.
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