Insurance firms must lower premiums as government funds disaster prevention, minister says
by Katharine Murphy Political editor from on (#65DXQ)
Murray Watt says Canberra is funding disaster mitigation infrastructure and expects the insurance industry to fulfil its end of the bargain'
Insurance companies need to reduce premiums for customers in disaster-prone regions now the federal government is investing heavily in infrastructure to minimise loss during extreme weather, the emergency management minister, Murray Watt, says.
Ahead of confirming funding on Friday for 34 new mitigation projects to reduce the impact of coastal erosion accelerated by the climate crisis, Watt used an insurance industry conference to put the sector on notice.
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