The disaster was part of a global trend towards localised, sudden and intense weather known in the insurance industry as "secondary perils". These events,
thunderstorms, hail, bushfires, drought, flash floods and landslides, are less severe than single, huge catastrophes such as a massive earthquake or cyclone.Australia is among the countries in the world to extreme weather resulting from climate change. That means we need to think seriously about how to manage the financial risk of secondary perils." may be a piece of the puzzle. The insurance uses automatic payments to make the process easier for both victims and insurers. It's been deployed as far afield as remote parts of Paraguay and Mongolia — and could work for Australia, too.
After an extreme weather event, it can be hard for insurance assessors to make the long trip out to the
Source: Energy Industry News (energyindustrynews.net)
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