IAG welcomes nearly $400 million in funding for disaster preparedness
IAG today welcomed the Federal Government’s announcement of nearly $400 million in funding for key disaster preparedness projects that will help to protect people and communities from the impacts of severe weather and natural disasters.
The funding for 187 projects includes the first allocation from the Government’s annual $200 million Disaster Ready Fund, with the funding for the majority of successful projects matched by state, territory, local government or delivery partners.
The projects to receive funding include infrastructure and risk reduction initiatives such as flood levees, seawalls, cyclone shelters and hazard warning systems.
IAG Managing Director and CEO Nick Hawkins welcomed the funding for the mitigation initiatives which will protect lives and property.
“For more than a decade we’ve highlighted the importance of greater investment in mitigation initiatives to help protect communities before disasters strike, and the Government’s Disaster Ready Fund, and financial support provided by all levels of government for these projects will help achieve this,” Mr Hawkins said.
Protecting people and communities most vulnerable to severe weather events, which are becoming more frequent and severe due to the impacts of climate change, must be a priority for the nation and today’s announcement is an important step forward.
Nick Hawkins
IAG Managing Director and CEO
“Investment in mitigation initiatives not only protects lives, property, businesses and critical infrastructure, it helps to reduce the financial, physical and social costs of recovering from severe weather and disasters.”
IAG will continue to work with the Federal Government’s Hazards Insurance Partnership (HIP) to identify opportunities for disaster risk reduction to improve insurance affordability and availability, and all levels of government across the country on disaster preparedness and mitigation.
