Landholders told no insurance for gradual sea level rises
Updated Tue Oct 30, 2012 2:43pm AEDT
Map: Sale 3850
A committee of coastal property owners dropped by the South Gippsland Shire Council will be unable to insure their homes against sea level rises caused by climate change.
The South Gippsland Shire Council plans to cut its ties with the committee it set up to maintain seawalls along the Corner Inlet coast.
The council says by cutting its ties with the group, it can no longer be sued if homes are inundated by sea level rises.
Karl Sullivan, from the Insurance Council of Australia, says the residents will be unable to insure their homes against gradual sea level rises.
“If it’s a single large event, generally you will find a lot of people will have cover for these things but a gradual increase in sea level, over many decades that gradually … [submerges] the house, is not really contemplated under most policies,” he said.
“From a residential perspective, there’s really no cover available globally to protect yourself [from] a gradual sea level rise and loss of amenity of a property.”
Topics: climate-change, local-government, insurance, sale-3850
First posted Tue Oct 30, 2012 12:43pm AEDT