The Insurance Council of Australia (ICA) responded to the 2025-26 federal budget by reiterating calls for greater investment in long-term disaster mitigation.
A centrepiece of its policy recommendations is a proposed $30.15 billion Flood Defence Fund (FDF), which would be jointly funded by state and federal governments over a decade. The proposed fund would be allocated across four main areas:
- $15 billion for new infrastructure such as levees and dams
- $5 billion to retrofit flood-prone homes
- $10 billion for voluntary buyback schemes
- $150 million to maintain existing flood defences
