Natural disasters costing Australia 50% more than estimated

Reports find increases in family violence and mental health problems due to stress of natural disasters outweighs cost of rebuilding infrastructure

The cost of natural disasters in Australia is 50% more than previously estimated- $9bn in 2015 - and is set to increase to $33bn by 2050 even ignoring the effect of climate change, according to two reports commissioned by the Australian Business Roundtable for Disaster Resilience and Safer Communities.

The reports included the first analysis of the economic costs of social impacts of natural disasters, and concluded they cost the economy more than tangible impacts like damage to property.