The Australian Government should schedule an independent and public review of the progress of reforms to natural disaster funding arrangements five years after implementation has commenced. This review should examine the operation and efficacy of the arrangements, including the:
• use of assessed damages and benchmark prices for the reconstruction of essential public assets
• use of upfront grants for community recovery
• feasibility of moving away from a cumulative trigger for recovery funding and towards an event-based model
• quantum and impacts of mitigation funding, and the institutional arrangements used by states and territories to allocate the mitigation funding they receive
• accountability arrangements for each level of government, including those that relate to Australian Government budgeting for natural disasters, insurance of state and territory government assets, and use of asset management planning by state, territory and local governments
• progress implementing the Commissions’ recommendations in relation to land use planning, information provision and insurance.
In developing terms of reference for this review, the Australian Government should consult with state and territory governments.

Recommendation 18