Extreme weather doesn’t have to end in disaster
Images like these never get easier to see, yet they continue to appear on our news channels. And while floods, cyclones and bushfires can be extreme, it is possible to lessen the impact.
Governments can lessen the impact
Boosting investment in stronger homes and local infrastructure can make communities more resilient in the face of worsening extreme weather.
In February 2022, the Insurance Council released its Building a More Resilient Australia report, advocating for Australian Government investment in these measures to lift from $100 million to at least $200 million a year, or $1 billion over the next five years, matched by the states and territories meaning a $2 billion investment in better protecting Australian homes and communities.
Our report and the complementary research from Finity forecast this investment is expected to reduce financial, health and social costs to the Australian Government and Australian households by at least $19 billion by 2050.
How will this investment help?
Through investing in resilience measures, federal and state governments can improve the resilience of the nation’s homes and businesses to cyclone, flood and bushfire, as well as projects that protect the community, like levees, floodways, and fuel reduction.