IAG has welcomed the announcement by the Commonwealth and Queensland Governments of $60 million to help make strata properties in North Queensland more resilient to the impacts of severe weather.
The Strata Resilience Program (SRP) will support strata title property owners with funding to undertake a range of cyclone mitigation initiatives such as strengthening roofs and upgrading external doors, shutters, and screens.
The program will fund 75 per cent of approved works for strata buildings up to a maximum of $150,000 (including GST).
IAG Managing Director and CEO Nick Hawkins welcomed the investment in helping to create safer, more resilient strata schemes.
With the increasing frequency of severe weather, it’s critical we continue to invest in mitigation and resilience initiatives to make properties and communities in high-risk areas safer and better protectedNick Hawkins
IAG Managing Director and CEO
“Reducing the level of risk at a property level has the flow on benefit of putting downward pressure on insurance premiums.
“IAG congratulates the Commonwealth and Queensland Governments for their investment in making strata communities more resilient through the SRP and other programs, and ultimately, helping to make communities in North Queensland better protected from the impacts of severe weather into the future.”
The SRP will open in the coming months.