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Journeys : Apr May 2011
Insurance matters From RACT Insurance CEO Trent Sayers Climate change is projected to increase the severity and frequency of many natural disasters, such as bushfires, cyclones, hailstor ms and floods. Inevitably, this will place pressure on insurance premiums across the industry and only continue to compound the ongoing issue of under-insurance. Approximately 20 per cent of Australian households don’t have building or contents insurance. If premiums rise against the backdrop of climate change more households may opt out of insurance, placing added burden on governments and communities. The Department of Climate Change and Energy Efficiency anticipates that by 2030 Australia will face: • A further 1oC of warming in temperatures • Up to 20 per cent more months of drought • Up to 25 per cent increase in days of very high or extreme fire danger • Increases in storm surges and severe weather events In Tasmania climate change impacts are expected to include moderate rises in temperatures across most areas, changing rainfall patterns and sea level rises and frequent and severe storm surges. The insurance industry has a responsibility in consultation with governments and our local communities to take action in order to protect ourselves and build a greater resilience to the impacts of increased severe weather events. Insurers need to help inform and advise both gover nment and the community regarding the probabilities and costs of severe weather events, identify better practices to help guide property owners regarding risk adaptation and develop innovative product in response to increasing natural disasters. Governments need to implement appropriate planning and zoning, develop our emergency management and disaster recover y capabilities and reduce barr iers to acquiring insurance, such as taxes on policies. At an individual level we need to ensure that we are making careful r isk mitigation decisions, such as choosing appropriate building materials and not purchasing property in areas at high risk from extreme weather events. Peter, you’re a Good Samaritan When two visitors to Tasmania broke down recently in a remote spot between Lake Burbur y and Nelson Falls, they were pleased to see Peter Berry pull up and ask if they needed help. Peter works as a w inder driver (more on that later) at Copper Mines of Tasmania and he drives the Lyell Highway between Queenstown and Hobart ever y four days. “They were RACV members but they couldn’t call for help because their mobile phone was out of range,” Peter told Journeys. “A lovely lady at RACT answered and I ar ranged for a Roadside patrol to come to their aid.” RACT consultant Cher yl Shoobridge was that lovely lady – she told us about Peter’s kind action. Cheryl said consultants often report that callers to Roadside have been assisted by a good Samaritan like Peter Berry, although we’re not always able to follow them up to say thank you. And what does a winder driver do? “I drive the machiner y that hauls up ore from 640 metres underground and I operate the cage winder equipment that sends miners down and brings them back after their shift,” Peter told us. Thanks again Peter – your brief stop meant a lot to those two members of our sister club in Victoria – they went on their way with positive thoughts about Tasmania. Life on the move April / May 2011 37 To apply call RACT on 13 27 22, drop into your local branch or visit www.ract.com.au Terms and conditions, including fees & charges apply. Full details of this offer are available on application. B&E Ltd. ABN 32 087 652 088 AFS licence No. 236870 RACT has partnered with Tasmanian financial institution B&E Personal Banking to deliver you a great home loan deal. As an RACT member you will pay no application fee on any B&E home loan, saving you up to $650! So let RACT and B&E help you get a home loan that really rewards you... let’s get together. Home loans that really reward you Home Loan application fee
Feb March 2011
Jun Jul 2011