This document sets out 12 policy areas that insurers have identified as requiring reform, modernisation, or investment, and is the result of collaboration and consultation not just across the membership of the Insurance Council, but with stakeholders and policymakers across the country. While the focus of this document is on the work of the Australian Government, it is not possible to neatly separate Federal policy responsibilities from those of the states and territories and this document includes some reforms that must also be undertaken at a sub-national level.
The recommendations include:
- Increase Commonwealth investment in extreme weather resilience measures from $100 million to at least $200 million a year, or $1 billion over the next five years, matched by the states and territories;
- Review land use planning arrangements and establish a national natural peril data centre to enable better planning by governments and developers;
- Amend national building codes to include a resilience and future risk standard;
- Improve data sharing to support the assessment of claims and the provision of services by governments and NGOs following a disaster