Home / Economics Committee Hearings / Craig Kelly on climate
28 April 2020
Now it's the turn of Craig Kelly. He's questioning ICA claims that this is our worst disaster season on record with $4.6 billion of losses.
He talks about a research paper that has a number of worse years, and that this year is in fact the seventh-worst.
Mr Sullivan says the number of claims and the geographic spread accounts for ICA calling it the worst disaster season. He says the number of factors involved this season, including COVID-19, are unprecedented.
Mr Kelly says the dollar terms is the more important measure and that ICA's claim "doesn't stand up".
"The current season may not necessarily be the worst natural disaster season on record," he says.
Mr Sullivan says time will tell, but it's certainly one of the worst.
Mr Kelly says the same paper shows that climate change is not making insurance losses worse.
"There are a number of other papers that point to slightly different outcomes," Mr Sullivan says.
He agrees to supply these papers to Mr Kelly.