Home / Economics Committee Hearings / Committee hearings blog: Youi on climate
29 April 2020
It's Adam Bandt's turn to ask questions - and he's asking about climate change. Specifically, has climate change led to increased numbers of claims.
"That's a very difficult question to answer," Mr Bakker says.
He says Youi is "keeping abreast of research" and purchasing reinsurance "to protect ourselves and our customers".
"We are certainly seeing that this year in particular we will see an increase in reinsurance costs," he says.
Increases will be in the double-digit range he says. "It is difficult to say what it is attributable to."