A 2019 report by climate risk analysts XDI, Climate Change Risk to Australia's Built Environment - A Second Pass National Assessment, examined Australia's climate risk between 2020 and 2100 by analysing five hazards:44 • bushfire • riverine flooding • coast inundation • subsidence • wind. This granular data set considered more than 15 million Australian addresses in 544 Local Government Areas and ranked Local Government Areas for current and future risk vulnerability (see Table 2.1). The analysis is helping to develop a better understanding of localised resilience and vulnerability so interventions can be more targeted. The first edition of this project was funded by the Australian Government.45 Table 2.1: Access to comparative national data helps to build a compelling local business case
TTIPS: The Total Technical Insurance Premium is the annual average loss per address (or group of addresses) for all hazard impacts in a Local Government Area. VAR%: Percentage of Value at Risk is the technical insurance premium expressed as a percentage of a single asset's replacement cost, specified for a 1-year period with no discounting of the technical insurance premium or the asset replacement cost. HRP#: Number of High Risk Properties. An asset is classed as becoming High Risk if its VAR% for a given year exceeds 1%. HRP%: Percentage of High Risk Properties. Source: XDI (2019)46 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||