MP Zali Steggall calls for better climate resilience as Cyclone Alfred highlights insurance woes

Tropical Cyclone Alfred has exposed a major issue millions of Australians face as it looms ever closer to the east coast.

Independent MP Zali Steggall is renewing her push for a national climate resilience plan after new research found one in five homes were either uninsured or underinsured.

The Australia Institute published the grim finding on Wednesday as coastal communities in southern Queensland and northern NSW braced for Tropical Cyclone Alfred.

The think tank’s research showed 78 per cent of homeowners said their properties were fully insured, while 15 per cent said they were underinsured and 4 per cent said they did not have any insurance.

Powerful waves are lashing parts of Queensland and NSW as Tropical Cyclone Alfred bears down on the east coast. Picture: NewsWire / Glenn Campbell

With official data showing property values north of $11 trillion, that could equate to more than $2 trillion worth of uninsured or underinsured homes.

Ms Steggall said on Thursday that Australians were “being forced to gamble with their future because escalating climate risk is making insurance unaffordable”.

“Families, businesses and our entire economy are all at risk,” she said in a statement.

“We have a clear choice: Act now to build resilience, lower insurance costs and protect lives and livelihoods or leave Australians and our economy vulnerable to financial ruin.”

With polling and analysts predicting a hung parliament at the upcoming federal election, Ms Steggall could play a key role in shaping the agenda of a minority Labor or Coalition government.

The crossbencher made clear legislating a climate resilience action plan would be a key demand.

Independent MP Zali Steggall says Australians are ‘being forced to gamble with their future because escalating climate risk is making insurance unaffordable’. Picture: Martin Ollman / The Australian

“We must take smart steps to reduce climate risk and improve resilience,” she said.

“This means prioritising smarter planning, creating more resilient homes and scaling up investment in climate risk reduction measures that protect households, communities, businesses and our economy.

“To underpin this work, we must legislate regular, independent national climate risk assessments and adaptation plans to lock in long-term resilience planning and preparation, regardless of political changes.

“Governments have a duty to keep Australians safe.

“That’s why I am releasing the exposure draft of my Climate Change (National Framework for Adaptation) Bill and calling on both major parties to commit to legislating national climate risk and adaptation plans in the 48th parliament.”