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Brokers told by insurer: ‘Carbon tax will lift premiums’

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Insurance Business | 31 Jul 2012, 12:05 AM Agree 0
One of Australia’s biggest insurers has reportedly issued a warning that the carbon tax will force commercial insurance premiums up and brokers need to review the cost of clients’ policies.
  • Robert Cooper | 31 Jul 2012, 12:50 PM Agree 0
    If the only example that can be given that the Carbon Tax will raise premiums is in the area of Machinery Breakdown, and then only Refridgeration machinery, then why give the impression that all insurance premiums will rise? It is only one aspect of a portfolio of risks, and not all risks need such cover, or alternatively manage it in other ways.

    To use that small fact to alarm all Insureds that premiums will rise is misleading and typical of the rubbish we are hearing from irresponsible conservative politicians.

    The Insurance Industry has a duty to support any mitigation of risk and the likely increasing severity and frequency of weather related events is directly related to climate change of which it needs global action. At least Australia has started albeit in a small way.

    We complain when governments fail to implement flood mitigation strategies for flood prone towns, but complain when they introduce mitigation strategies on the big polluters contributing to climate change. A very inconsistent response that can only be attributable to political reasons.
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