The NSW Reconstruction Authority (RA) and Insurance Council of Australia (ICA) have formalised a new partnership to strengthen coordination between government and the insurance sector before, during and after disasters.
The partnership establishes clearer arrangements for the RA and insurance industry to share information, coordinate recovery planning and work together to support disaster impacted communities across NSW.
Under the new Memorandum of Understanding (MoU), the RA and ICA will collaborate on disaster preparedness, recovery and reconstruction, including through improved information and data sharing, joint planning and coordinated community engagement.
The agreement also recognises insurer participation in recovery operations, including at Recovery Centres and through community outreach, helping residents and businesses access insurance information and support throughout their recovery.
It also enables earlier collaboration between the RA and insurance industry on the development of recovery policy and programs including post-disaster clean-up programs.
NSW Reconstruction Authority CEO Kate Fitzgerald said the agreement strengthens the important relationship between government and the insurance sector.
“After a disaster, communities need government, insurers and other recovery partners working together and sharing information so people can get the support they need as quickly as possible,” Ms Fitzgerald said.
“This agreement gives us a clearer mechanism to do that, from sharing information that helps us understand what is happening on the ground to coordinating support through Recovery Centres and community outreach.
“Importantly, it also strengthens the work we can do before disasters occur, bringing government and the insurance sector together to identify challenges, improve preparedness and plan for recovery.
“By building these relationships before they are needed, we can provide a more coordinated recovery when communities are dealing with the impacts of a disaster.”
ICA CEO Andrew Hall said the MoU strengthens the partnership between the insurance industry and the RA, helping ensure people receive the right support at the right time.
“When extreme weather strikes, communities need support that is coordinated, accessible and focused on recovery,” Mr Hall said.
“Since 2022, insurers have received more than $4.79 billion worth of claims in New South Wales alone as a result of extreme weather.
“By working more closely together, we can improve information sharing, identify emerging community needs earlier, and help affected residents and businesses navigate what is often a challenging recovery journey.
“Insurance plays a critical role in funding recovery and rebuilding following disasters. This agreement will help insurers and government work side-by-side to support faster recovery outcomes and build more resilient communities for the future.
“We congratulate the NSW Government for taking this initiative and encourage other states to follow suit.”
The NSW Reconstruction Authority leads and coordinates disaster prevention, preparedness, recovery and reconstruction activities across NSW.
The Insurance Council of Australia is the peak representative body for Australia’s general insurance industry, with its members accounting for approximately 90 per cent of total premium written by general insurers and reinsurers.
