Australia: 'Flood mitigation a vital saving' - Suncorp

Australian insurance companies will be forced to keep on increasing premiums unless the state and federal governments get on with the job of mitigating flood-prone areas in Queensland, warned Patrick Snowball, the chief executive of the nation's largest insurer, Suncorp, as reported by the Australian. "We just can't go on ladling more costs on to individual consumers to the point that people can't afford insurance. When people can't afford insurance then the government ends up paying, so the government must mitigate," he said.