Resilience, durability and the National Construction Code

The CIE was commissioned by Insurance Council of Australia (ICA) to estimate the economic benefits and costs of improving building resilience to extreme weather events through the National Construction Code (NCC).

We estimate that the annualised residential building-related costs from the extreme weather events addressed by the NCC could be around $4 billion per year, including $2 billion from cyclone, $1.5 billion from floods and $500 million from bushfires. These costs are likely to increase significantly in the period ahead.

Apart from strengthening the NCC, state and territory planning rules could also play a pivotal role in mitigating the risks associated with extreme weather events, especially in terms of preventing the construction of new homes in flood-prone high-risk areas.

LINK TO ICA NEWS RELEASE

LINK TO CIE REPORT