Josh Frydenberg open to intervening in insurance market as climate change pushes up premiums
by Katharine Murphy Political editor from World news | The Guardian on (#5X8Y2)
Treasurer says he's conscious premiums too high for many people in disaster-prone areas, but says more work needed on a proposal to extend reinsurance scheme
Josh Frydenberg has flagged he is open" to further market interventions making insurance more affordable, but says more preparatory work will need to be done before the Morrison government would extend its $10bn cyclone reinsurance pool in northern Australia to cover more natural disasters.
In an interview with Guardian Australia ahead of the budget on 29 March, the treasurer said he was conscious that a changing climate rendered insurance problematic in some parts of Australia.
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