The Insurance Council of Australia has welcomed th e Palaszczuk Government's renewal of its successful regional Household Resilience Program as a practical, immediate and proven way to provide local jobs,improve the strength of vulnerable homes and reduce household insurance premiums.
The first Household Resilience Program initiative, introduced in July 2018, strengthened 1749 older homes against the impact of cyclones and reduced insurance premiums for many North Queensland property owners.
The Household Resilience Program has assisted and now will continue to assist owners of homes built before 1984. Local tradespeople have conducted 99 per cent of the cyclone-proofing upgrades undertaken to date. They have improved the safety and resilience of properties by undertaking roof upgrades, installing or upgrading roof tie-downs and strengthening windows and doors.
ICA Head of Communications Campbell Fuller said: "The ICA called for the renewal of the Household Resilience Program in its September 2019 submission to the ACCC Northern Australia Insurance Inquiry.
"The insurance industry supported this initiative the first time around and backs the renewal of it this time, particularly in light of the tough financial situation many North Queensland homeowners and tradies are in as a result of COVID-19."
The ICA encourages the owners of pre-1984 homes, located up to 50km from the coast between Bundaberg and Cooktown, to check their eligibility for the Household Resilience Program and to invest now in the long-term resilience of their homes and communities by taking advantage of the grants available.
"This initiative works, it helps low-income homeowners in cyclone-prone areas feel more secure knowing their home has been strengthened to give it a better chance of withstanding cyclonic weather conditions," he said.
