Joshua Baldwin, President of SCA, highlighted that economic pressures are driving up construction and repair costs, leaving households, businesses, and strata schemes struggling to rebuild after disasters. He noted that the ICA's Catastrophe Resilience Report underscores mounting insurance pressures and the growing urgency to protect communities from disaster.
Beyond climate risk, the cost of rebuilding post-disaster is being compounded by inflation, labour shortages, material costs, and housing constraints. In high-risk regions, recurring disasters are eroding resilience and deepening vulnerability.
SCA supports the ICA's call for coordinated long-term reform, advocating for greater investment in resilience infrastructure, stronger and more resilient buildings in safer locations, and the removal of insurance taxes. These measures aim to enhance the ability of strata communities to withstand and recover from disasters more effectively.
For strata property owners, this endorsement underscores the importance of proactive engagement with resilience initiatives. Collaborating with strata managers to implement risk mitigation strategies, staying informed about regulatory changes, and advocating for infrastructure improvements can contribute to the overall resilience and sustainability of strata communities.
