My Take. The Insurance Industry is losing the Risk battle on all sides and have gone bleating to the RBA.
1.) The average inquisitive punter is becoming more knowledgeable in the climate space especially in the land of Droughts, Floods, Wind and Fires especially cyclic behaviour which is comprehensively documented.. The premiums will be leveraged by the Insured with this knowledge at greater risk to the Insurer.
2) ClimateChange as a Social-Economic force is disrupting so much that Insurance Industry can no longer tell who will fold and who will survive other than through defaults and claims.
