Significant increase in investment needed to make Australian family homes more resilient

The Insurance Council of Australia (ICA) and Master Builders Australia (MBA) are calling for the Federal Government to increase investment in disaster mitigation and building resilience funding.

The ICA and MBA will be hosting the second Building Stronger Homes Roundtable in Canberra on Wednesday, 17 February 2021.

The Roundtables have been convened by the Insurance Council of Australia and Master Builders Australia to develop proposals that will help strengthen homes and communities against natural disasters.

The second Roundtable will include two facilitated panel discussions and moderated Q&A sessions comprising a range of cross-industry and government experts who will focus on the financial impacts of natural disasters, the cost of rebuilding and the learnings from existing resilient homes programs, with the aim of creating actionable change.

Both organisations are calling for the Federal Government to increase disaster mitigation funding and education programs to reduce the physical loss and economic disruption caused by bushfires, cyclones, storms, flood and other extreme weather events.

ICA CEO Andrew Hall said greater investment by governments across Australia would significantly help communities bounce back from the impact of extreme weather events.

“Mitigation and infrastructure improvements increases a property’s resilience, reduces the risk of damage from a natural disaster, and reduces insurance premiums,” Mr Hall said.

MBA CEO Denita Wawn said it is important to address reforms and standards so that property protection is included in the Australian Building Codes.

“By getting the codes and standards right, we can develop education programs that address how improvements to existing homes can improve building resilience,” Denita Wawn said.

The Building Stronger Homes Roundtables will continue to be held throughout early 2021.