Suncorp welcomes $800 million in crucial support for flood-prone Northern Rivers, New South Wales

Suncorp Group today welcomed the Commonwealth and New South Wales Governments’ historic commitment to jointly fund a $800 million package to help flood-prone areas of the Northern Rivers in New South Wales. 

Suncorp Group CEO Steve Johnston said the Northern Rivers Resilient Homes Fund would help communities rebuild and recover in areas impacted in the February-March 2022 floods, while boosting their strength against future floods by offering a voluntary buy-back scheme in the most vulnerable areas. 

“We welcome today’s announcement to support those communities still recovering from devastating and extreme floods,” Mr Johnston said.  

“This funding is critical to ensuring households most at risk are moved out of danger and protected from the physical, financial and psychological impact of future floods.” 

The Northern Rivers Resilient Homes Fund will also support home raising and retrofits to lessen the impact of future floods.   

“Today’s targeted investment will reduce the impact of extreme weather and result in safer communities and stronger economies,” Mr Johnston said. 

This week Suncorp Group also signed an agreement with the Queensland Government to partner in delivering its Resilient Homes Fund program. 

Mr Johnston said these programs highlighted the importance of governments at all levels, industry and individuals working together to better protect people, homes and communities from the increasing threat of natural disasters. 

“We all have a critical role to play when it comes to being better prepared for and protected against severe weather and it’s good to see progress being made on this front,” he said. 

“More funding for disaster readiness is vital and must continue to focus on communities where there is high risk of extreme weather. Suncorp will continue to advocate strongly for this as part of our four-point plan for a more resilient Australia. 

“Today’s announcement isn’t just about rebuilding – it’s about providing peace of mind and confidence to communities that have faced years of hardship and uncertainty.”