Living in Kwa Zulu Natal or on the East Coast of Australia , one might well be forgiven for prioritising one’s own well-being. Floods seem to be categorised as secondary perils, not being at the same mark as a notable hurricane or earthquake. But for those who are directly affected, including the loss of one’s home, those events are catastrophic in their own right.

These so-called secondary perils now account for a lot more economic cost than defined catastrophes.

Can the increasing number and size of floods and wildfires be blamed on climate change? Not entirely! Geographical movements contribute. People gravitate to living near rivers and beautiful locations which are frequently prone to negative physical consequences. People are inclined to be gregarious and nature may be very unforgiving.

It’s a fact that insured values typically amount to substantially less than 50% of economic cost. It’s likely that this phenomenon will continue unless there is government intervention.