As has become obvious in the aftermath of Cyclone Alfred, insurance availability and affordability is a serious issue for many Australians (“Mayor marshalls ‘ute army’ to clean up Brisbane”). It will not go away as climate-driven extreme weather events become more common in all parts of the country.
We already know that each degree of warming adds 7 per cent of water vapour and energy to the atmosphere. Our sea temperatures are already much warmer, especially along the East Australian Current, which is why Cyclone Alfred formed so much further south than previous cyclones. And there will be a lot more Alfreds.