As flood waters begin to recede in some areas of the eastern seaboard, insurers are already beginning to calculate the damage bill from these devastating floods.

It’s already clear this will be the most costly flood event in Australian history.

There are warnings premiums on household insurance policies will rise for flood affect families areas and perhaps more broadly.

Amid an increasing frequency of storms and other adverse weather events, insurers are warning that parts of Australia are essentially becoming uninsurable.

Today on Please Explain, Jess Irvine is joined by business reporter Charlotte Grieve.