COVID-19, bushfires and floods. Businesses in Australia have had a lot to contend with this year. Yet, despite climate risk simmering in the background for APAC based businesses, more than half (58%) of the 100 APAC senior executives surveyed admit their companies are not fully prepared to address the adverse financial impact of climate risk.

ESL contributions are to increase by 21% from $898m in the 2019-2020 financial year to $1,090m in 2020-2021. Budget increases are to fund workers compensation reforms that allow for benefits to be payable to firefighters diagnosed with prescribed cancers, as well as increased expenditure in Rural Fire Services (RFS) capabilities. FM Global have estimated that to meet the funding obligations to the fire and emergency services a rate of 37% will need to be applied to all assessable NSW premium effective 30 JUN 2020.

SYDNEY, AUSTRALIA - Australia has been found to possess a strong foundation for a robust post-pandemic business recovery - featuring among the top-ranked countries in the 2020 FM Global Resilience Index.