The Insurance Council of Australia (ICA) has partnered with the Master Builders Association (MBA) to strengthen homes and communities against natural disasters.
Noting the findings from the Royal Commission into National Natural Disaster Arrangements, the ICA and MBA will host a series of roundtable discussions to create a pathway towards national policies that will improve property resilience, building standards, and land-use planning.
The Building Stronger Homes Roundtable will enable insurers and builders to share industry insights from both insurance data and builder experience and come up with solutions to improve the resilience and insurability of existing and future homes in Australia.
“Australians' homes are their greatest financial asset. The Royal Commission has identified clear priorities that can reduce the risks to homes. Whatever efforts we can take to reduce vulnerability and reduce the risk of loss must be a priority for industry and Australian governments,” said ICA chief executive officer Andrew Hall.
MBA chief executive officer Denita Wawn added: “The building and insurance sectors are committed to exploring practical and effective ways to deliver better building quality outcomes that enable the industry to deliver more resilient buildings and give consumers confidence. This includes keeping premiums at a sustainable and affordable level for consumers and the building and construction supply chain.”
The first roundtable discussion will be held in Canberra on November 26, 2020. Senior industry and government leaders – along with experts in science, banking and finance, and behavioural and market economics – will attend the roundtables.
