ICA welcomes Albanese government’s commitment to build more resilient communities 

The Insurance Council of Australia (ICA) has congratulated the incoming Albanese Government on its election victory, as it pledges to tackle climate change and invest in more resilient communities.

It is the first time in nearly a decade that the Labor party will lead Australia as Anthony Albanese vows to end the climate wars. 

In February he said accused the feasibility study into a new Adani coal-fired power plant in Collinsville as “hush money” for climate sceptics. It follows protests against the controversial Carmichael coal project, which has been granted approval to proceed.

Climate change was a key concern for voters, after three years of record-breaking bushfire and flood events. 

“I want to lead a government that has the same sentiment of optimism and hope that I think defines the Australian people,” Albanese said ahead of being sworn in during a live ceremony in Canberra.

Albanese and Malaysian-born Penny Wong, Australia’s first foreign minister to be born overseas, have flown to Tokyo for a security summit with US President Joe Biden, Japanese Prime Minister Fumio Kishida and Indian Prime Minister Narendra Modi.

Resilience a priority

The 31st prime minister has promised investment to better improve the resilience of communities through a $200m a year Disaster Ready Fund, with co-funding from the states and territories. 

ICA CEO Andrew Hall commented: ”The Insurance Council congratulates Anthony Albanese on being elected Prime Minister at this critical time in our nation’s history and we look forward to working with the new Labor Government. 

“The ICA has worked in a bipartisan manner with both sides of politics for many years on issues of importance to insurance customers and the sector, with a particular focus in recent years and months on community and household resilience.  

”We warmly welcomed Labor’s Disaster Ready Fund which, if supported financially by the states and territories, will make a real difference to protecting those homes and communities exposed to extreme weather risk.”