Economic pressures are driving up construction and repair costs, leaving households, businesses, and strata schemes struggling to rebuild after disasters. SCA President Joshua Baldwin emphasized that the ICA's Catastrophe Resilience Report underscores mounting insurance pressures and the growing urgency to protect communities from disaster.
In high-risk regions, recurring disasters are eroding resilience and deepening vulnerability. SCA supports the ICA's call for coordinated long-term reform, with greater investment in resilience infrastructure, stronger and more resilient buildings in safer locations, and removal of insurance taxes.
These collaborative efforts aim to enhance the resilience of strata communities, ensuring they are better prepared to withstand and recover from future disasters, ultimately safeguarding property owners and residents from escalating costs and prolonged recovery periods.
Published: Monday 23rd February, 2026
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