The Property Resilience and Exposure Program (PREP) represents a practical implementation of the ongoing Insurance Council of Australia’s Resilience Program. PREP collates data sources to develop an understanding of the resilience of homes to natural hazards. Using the Building Resilience Rating Tool, and creating “Resilience Maps" PREP creates a common understanding of the resilience of the homes in the LGA and explore mechanisms, such as building guidelines, and controls, to start addressing insurance affordability. PREP offers a solution to the growing risk faced by communities and local governments struggling to identify where to focus climate change adaptation efforts.

PREP uses best available hazard data (such as a local government flood study) to determine a property’s hazard risk profile. Building information data including ground floor height, construction information and specific location of the property is collated into a database. The Building Resilience Rating Tool then uses the hazard data and the building information data to form a resilience rating for individual properties. A Resilience Map is produced to provide a suburb level of resilience, highlight potential vulnerable hot spots or highlighting where development controls may be having an impact on resilience.

PREP provides a mechanism for local governments to understand the resilience of homes in the community and engage with the insurance industry on factors driving insurance affordability. PREP provides a mechanism for insurers to appreciate the existing mitigation to reduce the impacts of local hazards and ensure that they are able to continue to provide cover in high hazard locations.