NIBA / Feature
Ahead of the budget, we take a look at what NIBA and other industry bodies are urging the government to focus on ahead of the 2026-27 Federal Budget.
The 2026-27 Australian Federal Budget will be delivered by Treasurer Jim Chalmers in May 2026, and while it was already shaping up to be a significant one, recent events in the Middle East have changed the economic context for the budget, and the consequential risks of inflation, stagflation and recession will affect the government’s thinking. NIBA has led calls for a more proactive approach to disaster management and resilience – urging the government to shift from short-term disaster recovery to long- term risk prevention. “Ultimately, our focus in our pre-Budget submission is to help ensure insurance accessibility and affordability, and build resilience in our communities so we’re better placed to withstand the impact of events,” says Richard Klipin, CEO of NIBA.
It’s an approach shared too by the Insurance Council of Australia in its pre-Budget submission [see sidebar] and Klipin says the message to the Federal Government comes through loud and clear. “We need change and reform to ensure insurance can perform the role it needs to in society – and the first stage of that is being proactive in creating a more resilient environment. “A proactive approach to disaster mitigation, focused on long-term investments at both community and household levels, will reduce the impact of natural disasters, enhance resilience, and alleviate the financial pressures that reduce insurance affordability for Australian households and businesses.”
NIBA .COM.AU / 11
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