IAG Report Reveals Natural Disaster Costs on Small Businesses

Business Insurance Staff at Northern Insurance Solutions

IAG report reveals natural disaster costs on small businesses

“We know natural disasters will continue to increase in prevalence due to a warming climate. Research shows that a dollar spent on mitigation can save at least two in recovery and reconstruction costs, It’s critical that we now see governments identify and invest in mitigation activities, as well as stronger building codes and improved land use planning.”

EGM of IAG subsidiary CGU, Damien Gallagher.

IAG has detailed the impacts of natural disasters on small businesses and called on the government to increase security for regional communities against severe weather events.

Its report, titled “The backbone of regional and rural economics: small business and community resilience,” looks at the economic impact of notable events, including the 2019 Townsville floods and the 2019/20 summer bushfire season, as part of its analysis.

Read the full report form IAG here


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