Developing a policy framework for investments in disaster risk resilience – an economic and social cost approach
Organizer: Deloitte Access Economics
Deloitte Access Economics has examined the costs of natural disasters and associated policy implications in Australia since 2013. In particular, we have been involved in researching and analysing the impact of natural disasters in Australia through the partnership with the Australian Business Roundtable for Disaster Resilience and Safer Communities, a mix of private and community sector organisations. In this session we explore our approach estimating economic and social costs of natural disasters, and the challenges of estimating tangible and intangible (insured and uninsured) costs. We will also explore how improving the understanding of the economic costs from natural disasters can be used to inform risk assessments and investments in resilience. Deloitte Access Economics has also worked with a range of government and non-government entities to develop practical solutions to increase resilience, such as incorporating resilience into investment decisions and identifying opportunities for greater coordination between governments, businesses and communities in managing pre-disaster resilience. Based on insights from these collaborations, this session will discuss the importance of developing a policy framework to understand economic and social risk to prioritise mitigation investments.
Eamon McGinn, Director, Deloitte Access Economics
Muheed Jamaldeen, Associate Director, Deloitte Access Economics
Nick Hull, Manager, Deloitte Access Economics