E&OE TRANSCRIPT
AUSTRALIAN PARLIAMENT HOUSE
DOORSTOP

MINISTER FOR EMERGENCY MANAGEMENT, KRISTY MCBAIN: Well, thank you guys so much for being here today. I'm really pleased to be joined by the member for Macquarie, Susan Templeman, who's a not only a firsthand bushfire survivor but a real advocate for insurance affordability in this space. I am also joined by Kate from the Resilient Building Council, as well as representatives from the Insurance Council of Australia, from NAB, Allianz, and CommBank and Hollard. We have invested in a world-leading product, $3.2 million in the Bushfire Resilience Rating Home Self Assessment App, and what we know now is that 63,500 households have taken up this app. They have taken up the recommendations, which are personalised to their own circumstances, which have helped reduce premiums around the country. We know that if people take action, that they will get a reduction in insurance premiums, and what I am pleased to announce today is that we are expanding that with both NAB and CommBank. Which means people who have insurance premiums through these guys, through Allianz and Hollard, will now see a reduction in their premiums if they go through the Bushfire Resilience Rating App. This is quite substantial. It is something that is practical that we have worked on with the Resilient Building Council now for a couple of years. It is an important step in making sure that government can put downward pressure on insurance premiums, making sure that people have access to affordable premiums, but most importantly making sure that people have access to personalised advice about how to protect their homes come the next bushfire season. I live in a bushfire prone community, and I have gone through those steps myself. It is really important that people take the actions that they need to keep themselves and their property safe, and this is another way the Australian Government is taking practical action to keep insurance premiums as low as possible for bushfire prone communities. Everyone knows my good friend Susan Templeman has her own story in this space, and I want to pass to her as someone who has also used this app for herself.

MEMBER FOR MACQUARIE, SUSAN TEMPLEMAN: Thanks, Kristy. This is a really practical tool in the community of the Blue Mountains, in fact, across Macquarie, Blue Mountains, Hawkesbury, and Emu Heights areas, as we are at risk of bushfires, and so the bushfire component of insurance premiums can really hurt a lot of people. It's the reality of living where we live and the risk that we choose to take when we live there, so anything that we can do to reduce those premiums is very welcome. In 2013 I lost my house to a bushfire, and that made me realise how vital it is to have insurance. The insurance doesn't make up for the loss of your house but not having enough insurance compounds the trauma that you've been through, and that was the case for many people who were affected by the 2013 Blue Mountains bushfires. Around 200 families lost their homes, and many were underinsured and couldn't rebuild to existing building standards. We saw something similar in 2019, where people lost their homes, and I witnessed the challenges people faced when they were not insured. Equally, there are challenges when you are so.. anything we do, though, to make sure people are not only insured but can maintain the right level of insurance, so that they can rebuild their home is a very worthwhile thing to do. I've spoken to people who've used this app and gone through the process, made small changes to their home, and they've been able to see reductions in their premiums to the tune of $700. It obviously depends on where you are, the style of your house, as a comparison, I went through the app for my own home, which was rebuilt after the Winmalee fires, and I, because of the construction to my home was able to insure my home to what's called Flame Zone Standard, and I am eligible for the discount. I went through my mum's home, a few blocks away, which is an older style home, and it suggested the things that she could do to that older home to make it more resilient and entitle her to be eligible for discount. So, it's very practical, it's very individual. When you think about the cost of insurance, people are under cost-of-living pressures, and insurance is one that people look at, and it is too easy to say, "Oh, I'll take the risk for this year and not do it, or "I'll lower the amount. It's really not a risk anyone can afford to take in bushfire areas, particularly as we're moving into what we know may be a drier period and a more dangerous period, so this app is a practical step for people to take. Even a few $100 I tell you, makes a lot of difference when you're looking at your insurance, and to have even more insurers coming on board and being willing to recognise that individuals are taking responsibility for making their homes as resilient as possible is a really good thing, and I really thank the financial services organisations who are involved in this, and of course those who've designed it. They've really made a difference to people's lives.

RESILIENT BUILDING COUNCIL CEO, KATE COTTER: Thanks so much. Today is a really big milestone for the Resilience Readiness Program and for households living in bushfire risk areas, our role at the Resilient Living Council is to help adapt Australia, so that it is safer and more insurable, and we do that because we want to protect people, their homes, their livelihoods, their communities, and also to strengthen the resilience of our financial institutions and our economy, so we really welcome NAB through Allianz and CommBank through Hollard for joining this resilience ratings program. Recognising and rewarding the great work that over 66,000 households are taking across the country, seeing that level of risk reduction really encourages us that people, if given clear expert advice, will act, they will reduce their risk, and now they're being rewarded by more than half of the insurance industry. So, we look forward to growing the incentives for households, expanding the service to fight a bushfire and storm, which has been trailed in the Gold Coast at the moment, so that we can help all Australians be safer, reduce their insurance costs, and create really sustainable communities in Australia. It's really easy. The app is free and you get a free report. You are guided around your property to answer questions that will help inform a personalised action plan. Households are reporting savings between 50 and $840 off their premiums. This is fantastic for all Australians, and we are really grateful to the Commonwealth Government for supporting this program, and the industry and communities for working together to solve a really challenging global issue about how we reduce risk and keep ourselves insured. Thanks. 

ENDS