Natural disasters, such as the LA wildfires, have driven up insurance costs in Australia, with catastrophic fires in the US contributing to rising premiums. The Australia Institute analysis shows that the increasing frequency and intensity of natural disasters globally will impact insurance premiums in Australia, making coverage unaffordable in disaster-prone regions. The reinsurance market is also affected, as big reinsurers raise premiums to cover losses from events like Hurricane Ian, which made 2023 the third-costliest hurricane season on record.
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US backing for Ukraine frays three years after invasion
Ukraine is in the fourth year of a brutal war with Russia, facing uncertain support from the US as troops fight against relentless enemy advances. Despite tensions between Donald Trump and Volodymyr Zelenskiy, US officials have engaged in direct talks with Russia, excluding Kyiv and Europe. With European leaders visiting to commemorate the conflict, Zelenskiy is navigating complex relationships to secure vital military assistance and pursue a potential peace deal amid escalating tensions. Full Article
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