Wild weather is costing billions of dollars and putting the future of insurance in doubt

By Paula Jarzabkowski, Professor in Strategic Management, The University of Queensland
Katie Meissner, postdoctoral research fellow, Postdoctoral Research Fellow, The University of Queensland
Tyler Riordan, postdoctoral research fellow, Postdoctoral research fellow, The University of Queensland

Late winter and early spring has been marked by wild weather sweeping large parts of Australia, damaging homes and businesses and causing power outages.

Such unpredictable weather is also occurring around the world and driving huge rises in premiums to the point where the future of insurance is in doubt.

In 2022, floods, hurricanes, hailstorms, winter storms and droughts amounted to more than A$149…

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