By ERWIN CHLANDA
Alice Springs landed in top spot in a comprehensive survey of home insurance costs driven by climate change.
Except it’s not an achievement. It’s the opposite: We have the almost highest percentage of “uninsurability” right now and by the end of the century we’ll be No 1, according to the report.
The analysis, by leading climate risk analyst Karl Mallon, supplied exclusively to ABC News, calculates how changing climate risks (such as bushfire, flood, subsidence, inundation and extreme wind) would impact the cost and availability of insurance up to the year 2100 if all such risks were insured.
The irony is that the 11 top-ranking addresses are seaside cities, except Rockhampton, which is straddling the Fitzroy River.
But Alice Springs is 600 metres above sea level: The flood risk here therefore is exclusively from the Todd River, and it is absolutely within our engineering powers to stop or hugely mitigate that risk.
So if more and more Alice Springs people will become unable to insure their homes, the blame will rest with the NT Government and the Town Council because of their sustained failure to build flood mitigation.
“Riverine flooding can cause significant damage,” says the report. “Like inundation it has a strong impact on uninsurability.”
Dr Mallon says insurance premiums in Alice Springs between 2020 and 2100 will more than double. 11.5% or 76 of 662 addresses will be potentially uninsurable by 2050. This will rise to 18.9% — or 125 addresses — by 2100.
At 9am on October 24 the News sought comment from MLA Braitling Dale Wakefield, the Town Council and the Chamber of Commerce. None replied.
Image from the report: ‘Uninsurability’ in selected cities with over 10,000 addresses. Ranked from highest to lowest percentage of ‘uninsurable’ addresses in 2100. The Darwin numbers are much lower than the Alice Springs ones.