Insurance Australia Group (IAG) has released a report advocating planned relocation as an economically viable strategy for protecting high-risk areas from natural disasters such as bushfires, floods and cyclones. The study examines 10 case studies and makes seven policy recommendations, including the development of national guidance and increased funding and coordination to support relocated residents. Deloitte estimated that natural disasters will cost the Australian economy around AUD 73bn ($56bn) annually by 2060. The Queensland and New South Wales governments are presently looking at large-scale relocation programmes, supported by funds of AUD 1.5bn for flood resilience, including support for the voluntary purchase of high-risk properties.