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Australia reviews disaster insurance, considers fund

Source(s): Thomson Reuters Foundation, trust.org
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Photo by Flickr user, Oemebamo, Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0)
Photo by Flickr user, Oemebamo, Creative Commons Attribution-NonCommercial 2.0 Generic (CC BY-NC 2.0)

A review into disaster insurance and the potential need for a national disaster fund has been ordered by the Australian government today, in light of the economically devastating floods and cylones that recently hit Queensland, reports Reuters.

"We also need to ensure individuals and communities at risk of extreme weather events are aware of the risks, but are able to obtain suitable protection," said Assistant Treasurer Bill Shorten.

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Hazards Cyclone, Hurricane and Typhoon Flood
Themes Insurance and risk transfer Governance Economics of DRR
Country and region Australia
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