Suncorp Group today welcomed the Queensland and Federal Governments’ commitments to co-fund a $741 million resilience package to better protect flood impacted Queenslanders.
Suncorp CEO Steve Johnston said the program should become a template for similar action in other states and territories.
“Across Australia we spend far too much on mopping up after disasters and not enough in preparing for them. This investment starts the process of correcting that imbalance,” Mr Johnston said.
“This is not about finger pointing or politics – all levels of government must contribute, and we all need to work together.”
Suncorp has been calling for ongoing multi-year investment in a range of measures to better protect households and communities from the impacts of extreme weather and put downward pressure on premiums.
“As a company we have spoken about a 4-point plan for a more resilient Australia for several years. In addition to grants to help build resilience in homes, we’ve also called for further investment to improve public infrastructure; improvements to planning laws, building codes and approval processes; and the removal of inefficient taxes and charges from insurance premiums.
Steve Johnston, GROUP CEO
Across Australia we spend far too much on mopping up after disasters and not enough in preparing for them.
This investment starts the process of correcting that imbalance.
“We are committed to playing our part in helping Queenslanders recover from devastating extreme weather. Our insurance products are designed to help severely impacted customers, with Suncorp Insurance customers having access to our Build it Back Better product feature and GIO customers our Safety Net.”
Last month Suncorp announced it was recruiting 600 new employees across the country to help speed up the recovery process as part of its ongoing response to the East Coast disaster.
“We see first-hand the impact these events have on people’s lives, livelihoods and our broader society and economy. We continue to be here to support our customers and impacted communities, and to get the job done,” Mr Johnston said.
To date, Suncorp Group, with brands including Suncorp Insurance, AAMI, GIO and Apia, has received more than 43,000 claims from the floods and storms. This includes more than 19,000 home insurance claims in Queensland. The postcodes with the most insurance claims in Queensland are Deagon, Windsor and Graceville.