Natural disasters pushing insurers out of Pacific market

December 11, 2018

It’s getting harder to get home insurance in Vanuatu after Australian insurer QBE wrote to some of its customers and declined to renew their policies.

The company cited the high cost of earthquakes and cyclones as the reason for reviewing its strategy and applying what it calls “a more robust risk selection”.

But with catastrophic weather events in the Pacific expected to get worse, it begs the question of whether the region is becoming uninsurable.

Listen to full interview: https://www.abc.net.au/radio-australia/programs/pacificbeat/van-climate-insurance/10603972 

Source: Pacific Beat – Radio Australia