Tropical Cyclone Alfred may have been downgraded, but homes across NSW and Queensland still remain at risk of major flooding. Now thoughts are turning to what the cost will be. Just how many people were insured against the destruction? And how many will be able to claim back money in what’s now being called an 'insurance catastrophe'?  Today, business journalist Sumeyya Ilanbey, on what it will take for insurance premiums to come down, after steady rises over the last couple of years. Especially as global warming increases the frequency, and cost, of climate disasters.Subscribe to The Age & SMH: https://subscribe.smh.com.au/See omnystudio.com/listener for privacy information.