Construction & Engineering, Non-life, Property, Regulatory

Strengthening building codes could save AU$4bn (US$2.54bn) annually: Insurance Council of Australia

ICA report says building codes which mandate new homes can withstand extreme weather could save the nation an estimated AU$4bn per year, drastically reduce the cost of climate change to homeowners.

Editorial team

October 24, 2023

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2 min read

Banner for 22nd SIRC: 'Capacity to Capability'—Building resilience through innovation; futuristic city skyline with a glowing highway; Nov 1–5, 2026 at Sands Expo & Convention Centre.

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Market conditions continue to evolve as businesses review their priorities and plans for growth. The pace of change varies across the region, with local factors shaping how organisations respond.

Attention is turning to the balance between near-term opportunities and longer-term objectives. Decisions made today will help determine how businesses adapt as conditions develop.

While the outlook remains varied, the broader direction reflects a market adjusting to new demands. The implications will become clearer over time as plans move into practice.