Document / Publication

  • Do more with your content!Discover PreventionWeb Services
  • Normalised insurance losses from Australian natural disasters: 1966–2017
    https://www.preventionweb.net/go/70160

    Email sent!

    An email has been sent to the email addresses provided, with a link to this content.

    Thank you for sharing!

    OK

Normalised insurance losses from Australian natural disasters: 1966–2017

Source(s):  Environmental Hazards

The paper updates normalisation of the Insurance Council of Australia’s Disaster List in the light of debate about the contribution of global warming to the rising cost of natural disasters. Normalisation estimates losses from historical events in a common year, here ‘season’ 2017 defined as the 12-month period from 1 July 2017. The number and nominal cost of new residential dwellings are key normalising factors and post-1974 improvements in construction standards in tropical cyclone-prone parts of the country are explicitly allowed for. 94% of the normalised losses arise from weather-related perils – bushfires, tropical cyclones, floods and severe storms – with the 1999 Sydney hailstorm the most costly single event (AUD5.6 billion). When aggregated by season, there is no trend in normalised losses from weather-related perils; in other words, after we normalise for changes we know to have taken place, no residual signal remains to be explained by changes in the occurrence of extreme weather events, regardless of cause. In sum, the rising cost of natural disasters is being driven by where and how we chose to live and with more people living in vulnerable locations with more to lose, natural disasters remain an important problem irrespective of a warming climate.



Add this content to your collection!

Enter an existing tag to add this content to one or more of your current collections. To start a new collection, enter a new tag below.

See My collections to name and share your collection
Back to search results to find more content to tag

Log in to add your tags
  • Normalised insurance losses from Australian natural disasters: 1966–2017
  • Publication date 2019
  • Author(s) McAneney, John; Sandercock, Benjamin; Crompton, Ryan et al.
  • Number of pages 21 p.
  • ISBN/ISSN 747-7891 (ISSN)

Please note:Content is displayed as last posted by a PreventionWeb community member or editor. The views expressed therein are not necessarily those of UNDRR PreventionWeb, or its sponsors. See our terms of use