A new type of insurance pays out as soon as extreme weather hits – and we could try it in Australia - ABC News

Disaster victims in Australia can wait months or years for insurance payouts – or can't afford the premiums at all. As climate change worsens, we need a radical rethink, writes Caroline Schuster.

The floods that devastated parts of south-east Australia last month revealed, yet again, this nation's growing insurance problem. Assessment of the damage was agonisingly slow, and rising premiums me… [+6291 chars]

full article...