IAG submission to the Productivity Commission's Issues Paper - Natural Disaster Funding Arrangements lodged with Productivity Commission
05 Jun 2014
Insurance Australia Group (IAG) welcomes the opportunity to make a submission to the Productivity Commission Inquiry into Natural Disaster Funding.
This Inquiry provides Australia with an opportunity to develop a more sustainable and comprehensive national approach to the complex issue of funding and managing natural disasters. While other sectors may be better placed to recommend specific reforms to government funding arrangements, we are able to comment on the limitations of the existing framework, and on the principles which underpin an effective and sustainable disaster funding approach. We look forward to working with the government and other stakeholders on the development of the most appropriate options to achieve the social and economic policy objectives, and to support a move towards an effective disaster funding framework.