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Too costly? Extreme weather is weakening the insurance safety net
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Flood-damaged homes seen in Lismore, Australia, on March 29, 2022.
PHOTO: EPA-EFE
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SINGAPORE - When disaster strikes, insurance is meant to cushion the blow and help people recover and rebuild.
Climate change is upending this. Household and business premiums are rising and, in some cases, insurance is no longer available in areas prone to floods, wildfires and storms, hurting the ability of families and communities to recover even as climate impacts become more frequent and severe.
