ICA: Why flood protection should be a nation building activity

Last Modified: Thu Apr 13 2017 15:13:11 GMT+0530 (India Standard Time)
  • 97%
    Percentage of government disaster funding that is spent after the occurrence of major events, according to Insurance Council of Australia (ICA) chief executive Rob Whelan
  • 10x
    Savings on amount spent on recovery, for every $1 spent on prevention, according to Rob Whelan.
  • $2 million
    Amount insurers are paying out a day in emergency repairs and accommodation as a result of Cyclone Debbie.
  • $660 million
    Estimated insured losses. The cost to governments in disaster relief funding, loans and subsidies as well as replacement of major infrastructure could easily outstrip this amount, even as the full extent of the loss of Cyclone Debbie is yet to be tallied.
  • $200 million
    Minimum investment the ICA recommends, the federal government should be making each year into flood mitigation infrastructure, and treating it as an important nation building exercise.