Joint release with Resilient Building Council
In a world-first, users of the free Bushfire Resilience Rating Home Self-Assessment App can now receive discounts to their household insurance premiums from two of Australia’s largest insurers.
NRMA Insurance and Suncorp Group today announced they will provide discounts to households who complete their Bushfire Resilience Rating assessment and make their homes more resilient to bushfires, with other insurers and banks indicating they will follow.
The Bushfire Resilience Rating app measures the resilience of individual homes to local bushfire risk. The higher the Bushfire Resilience Rating achieved by households, the larger the insurance discount offered.
It follows last month’s announcement that one of Australia’s biggest banks, NAB, is now trialling mortgage rate incentives for app users in the Shoalhaven region via the Bushfire Resilience Rating home retrofit programs.
The Albanese Government contributed $3 million to support the groundbreaking work of the Resilient Building Council (RBC) who launched their free Bushfire Resilience Rating Home Self-Assessment app in October last year.
To date, over 19,000 households have accessed the app from 274 Local Government Areas. 6,600 households have taken at least 4 actions recommended by the app, investing an estimated $44 million in resilient home improvements.
This novel Australian science and technology has enabled insurers and banks to integrate household risk reduction into their pricing systems, which is a world-first.
Quotes attributable to Minister for Emergency Management, Murray Watt
“Today’s announcement demonstrates that the Albanese Government’s efforts to reduce climate and disaster risk are delivering real financial benefits to households.”
“By using the Bushfire Resilience Rating self-assessment app, not only are people making their home and community safer, but the program is helping to reduce insurance costs for users.”
“This is another important step from our Government to deliver cost of living relief for Australians.”
Quotes attributable to Resilient Building Council (RBC), Founder and CEO, Kate Cotter
“Helping people take action and reduce their insurance premiums through the free app is a game-changer for the 1 million households living in bushfire risk areas across Australia.”
“The Resilience Ratings can help transform Australia’s risk into resilience, rapidly.”
“The success of the Resilience Ratings is due to a decade of innovation, perseverance, and deep collaboration between experts, communities, governments and industry.”
“Every action a household takes, big or small, helps make our communities stronger, safer and insurable.”
Quote attributable to NEMA Coordinator-General, Brendan Moon
“NEMA’s direct investment in the RBC to develop this world-first app is a prime example of how we’re exploring ways to reduce the risk of natural hazards and improve people’s safety.”
“As well as helping people take individual steps to reduce disaster risk, we’re also continuing to work in partnership with all levels of government to build community resilience through programs like the Disaster Ready Fund and jointly funded initiatives through the Disaster Recovery Funding Arrangements.”
Quote attributable to the Andrew Hall, CEO of the Insurance Council of Australia
“The Resilience Ratings Scheme isn’t just about financial protection from the risk of bushfires; it’s about safeguarding our communities and empowering individuals to make informed decisions that can save lives and protect property.”
“By prioritising resilience in our homes, we pave the way for building a more resilient Australia – but we need to keep the momentum going.”
“The Insurance Council is looking forward to seeing an expansion of the Resilience Ratings Scheme across the nation, not just for bushfire but also threats like flood and cyclone.”
Quote attributable to Julie Batch, CEO NRMA Insurance
“Bushfires pose a critical threat to properties and lives across the country and the impact of these tragic events can last for generations. As a long-term partner of the RBC, we are pleased to have contributed to the development of the Resilience Rating methodology which underpins the app.”
“We are delighted to see the early uptake of people utilising the app, taking action to understand their bushfire risk and improve their household resilience. To further encourage and reward our customers who take resilience action, we will provide pricing benefits to those who gain a Bushfire Resilience Rating certification through the app of 3 Stars and above.”
Quote attributable to Lisa Harrison, CEO Consumer Insurance, Suncorp
“Insurers play a huge role in getting homeowners and communities back on their feet after a bushfire, and we know being prepared gives the best chances of lessening the physical and emotional impacts.”
“We welcome the opportunity to support this initiative to arm homeowners with information to help build their bushfire resilience. Importantly, we will support our customers who have gained a certified Bushfire Resilience Rating of 3 and above, by reflecting this in their insurance premium.”
Quotes attributable to Resilience Rating app trial participant, Val Gomez
“We had bushfires hit our property in 2010 and 2019, and since then we’ve done a lot of work to address every little detail and be as bushfire resilient as we possibly can. We got a good Resilience Rating, so now we can get cheaper insurance and interest rates.”
“We told our friends and neighbours about the Rating app and they are starting to use it and take action like we did. We’re all feeling like we know what to do, and we’re getting on with helping each other. It feels like real change is happening in our community now, we’re definitely better prepared.”
Additional Information
About the Resilient Building Council (RBC)
RBC is an independent, national not-for-profit collaboration of bushfire, flood, storm, cyclone, heatwave and energy experts. Our mission is to help every Australian make their home safer. We translate science and research into easy-to-use digital tools to help Australians adapt their homes and access insurance and finance discounts.
RBC is funded by Commonwealth, State and Territory government grants and industry sponsors.
About the Bushfire Resilience Rating Home Self-Assessment App
The world-first Bushfire Resilience Rating system and free home self-assessment app was developed by RBC through Commonwealth government disaster risk reduction funding.
The Multi-Hazard Resilience Ratings Expert Assessor program is being developed by RBC and research organisations, in partnership with the Insurance Council of Australia, to help improve the resilience of homes to bushfire, flood, storm, cyclone and heatwave. The project is jointly funded by the Commonwealth and NSW Governments and will be launched in May 2024.
