Mr Bandt asks about climate change and whether IAG's reinsurance costs are increasing.

Mr Harmer says IAG purchases about $9 billion of reinsurance, but that significant increases are not yet apparent.

He says after Cyclone Yasi in 2011 increasing reinsurance costs led to premium rises of about 20%.

"I expect some sort of rise but nothing in comparison to what we saw 10 years ago," he said.

Mr Bandt asks whether IAG would support increased reductions in emissions.

"Everybody has a responsiblity to do their bit in terms of climate change and emissions reduction," Mr Harmer says. But he adds that it is important to manage the transition.

Mr Bandt asks why insurers are not "shouting from the rooftops more" to avoid catastrophic scenarios.