Thought Leadership

One year on from the Actuaries Institute report, Home Insurance Affordability and Socioeconomic Equity in a Changing Climate, home insurance affordability remains a significant concern.   

To highlight and address this issue, the Institute has published new research, the Home Insurance Affordability Update and Funding for Flood Costs: Affordability, Availability and Public Policy Options. 

Read now.

One year on from the Actuaries Institute report, Home Insurance Affordability and Socioeconomic Equity in a Changing Climate, home insurance affordability remains a significant concern.   

To highlight and address this issue, the Institute has published new research, the Home Insurance Affordability Update and Funding for Flood Costs: Affordability, Availability and Public Policy Options. 

Read now.

This Paper introduces the Australian Actuaries Home Insurance Affordability (AAHIA) Index and highlights that one million Australian homes (approximately 10%) spend more than four weeks of their gross annual income on home insurance, classified as vulnerable on the AAHIA Index.

These vulnerable households are concentrated in the Northern Territory, Queensland and Northern NSW.

In Australia, the main risk to human life from climate change arises from heatwaves. As the frequency and duration of heatwaves increase, so will the number of heat-related deaths - and older people are the most vulnerable.   

This Paper outlines these heat-related risks and explains why they should be considered by life insurers and annuity providers, individuals and government.

Read the Paper.