Yes! We are allowed to make money while saving the planet.

Friday, January 21, 2011

Is it time for state insurance for property damage from fire and flood?

I friend of mine reminded me of the history of fire insurance.  It was originally offered by the early local fire brigades.  If you paid your premium, you were given a plaque to place on your property.  Then, if it caught fire, the fire brigade would put the fire out.  If you didn't have a plaque they would let it burn.

We have now gone full circle.  The people who insure their properties pay a loading for the fire brigade, but the firies will put out your fire, whether or not you are insured.   With more and more climate carnage coming our way is it now time for the state to provide fire and flood cover with an across the board levy on, say, our council rates bill?  That way, everyone would be insured and there would be clear financial disincentives for local councils to allow development in high bushfire risk areas and flood plains.   Too simple??

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