NAB and CommBank Insurers Back Bushfire Resilience Ratings Scheme in Australia

Insurance brands linked to two of Australia's largest banks, National Australia Bank and Commonwealth Bank, have joined a resilience ratings scheme that rewards households for reducing their bushfire risk with lower premiums. Under such schemes, properties are assessed on the mitigation measures owners have taken, from clearing vegetation and upgrading roofing and vents to installing ember-resistant screens, and those improvements can translate into pricing benefits when cover is arranged. The move is part of broader industry work toward a national, multi-hazard application that would let homeowners understand and demonstrate their resilience across perils such as bushfire, flood and storm. For Australian households, the appeal is direct: insurance affordability and availability have become acute problems in high-risk areas, where premiums have surged and some properties have become difficult to insure at all. Linking concrete mitigation to premium relief gives owners a financial incentive to invest in protecting their homes, while insurers gain a clearer picture of the risks they underwrite. Supporters argue the approach can help bend the cost curve over time if paired with investment in community-level defences and land-use planning. The participation of bank-backed insurers signals growing momentum behind resilience-based pricing.