In Taree on the Mid North Coast of New South Wales, Holly Rankin is leading hundreds of volunteers to continue the clean up after the recent floods.
The floods have destroyed up to 10,000 homes in the region.
Even with support from the State Emergency Service, Ms Rankin says the clean up hasn't been easy.
"A lot of people have experienced mud 1.5 meters up their walls. You know, you got dairy farmers with their entire infrastructure, their dairy farms destroyed. So you've got cows with mastitis. So over this week, we've brought together over 1000 community volunteers as part of our group, and we've been working alongside the SES to do those kind of easier to do, non dangerous jobs."
Ms Rankin says local residents impacted by the floods received a one-off payment of $1000 from the federal government, but she says the amount is too little to address the issue.
"Thousands of families in Taree, Wingham and surrounds have lost everything, all of their belongings, all of their clothes, their furniture, their kitchens. They're living in emergency accommodation right now. So anyone who does a weekly budget knows that $1,000 will only last you a week. It's not going to get very far. These people are standing in the face of an immense financial burden."
According to the Australian government's Disaster Assist website, in the first five months of the year, there were over 25 natural disasters across the nation, including Cyclone Alfred and the latest floods in New South Wales.
The Treasury estimates these disasters have led to a $2.2 billion decline in national economic activity in the first half of the year.
Treasurer Jim Chalmers says Australians are now in what he calls a stronger position to provide support for communities affected by natural disasters, due to lower inflation, debt and stable unemployment rates.
But according to Pradeep Philip, Lead Partner at Deloitte Access Economics, the $2.2 billion cost will be reflected in the upcoming GDP figures.
"So the government expects that the effects of Cyclone Alfred will be to shave about 0.2 per cent of GDP in the March quarter. This is because there's been damage done to a lot of assets, roads, bridges, homes. There are financial costs associated with this reduced economic activity, impacts on things like agriculture and logistics. And then third, there are social costs associated with this as people undergo enormous amount of trauma as a result of not just cyclone Alfred, but for some people, repeated severe weather events."
Mr Philip says Australia needs a much bigger plan than existing measures to address the issues, as the costs of severe weather events continue to go up.
"A few years ago, we had estimated that the cost of natural disasters in Australia would reach about $38 billion by 2050. Well, we're actually there now, right now, in Australia, the cost of natural disasters is around $38 billion a year. And by 2070 this could rise to between 73 and $94 billion a year. So these are really significant numbers, and what it means is that addressing climate change is actually an important economic issue."
This week the Government also announced an additional $2 million to support farmers and small businesses impacted by drought in South Australia and Victoria.
The government also rolled out the Disaster Ready Fund, providing up to $1 billion funding till 2028 to help local governments and communities prepare for future natural disasters.
But Climate Council Fellow, Dr Simon Bradshaw, says the government seems to prefer spending more money on disaster recovery than adopting proactive measures to build community resilience.
While he agrees that there have been improvements in the government's approach, he thinks more has to be done.
"We still need the federal government to produce its long awaited national adaptation plan to guide some of this effort, and also an updated national climate risk assessment to ensure we have the information and data on risks that we need."
Dr Bradshaw says it's time to act faster to address the causes of natural disasters.
"Every new fossil fuel project we approve is increasing the dangers and the costs for communities in future. So our first priority always is to be moving more quickly beyond fossil fuels, renewable energy, getting to zero emissions as soon as possible. And that's fundamental to protecting people around today, and of course, all the more future generations beyond that."
Associate Professor Helen Boon at James Cook University has looked into four natural disasters in Queensland and Victoria.
Her research found people who felt they were most prepared for the disasters, were often those who felt they had enough insurance and emergency kits for the event.
She also found people who received both federal and state government support tended to feel more prepared in the wake of disasters.
But this isn't the case for everyone she says - especially for those on low incomes.
"I think it's really important that the government will ensure that insurance cover is available at reduced rates for those whose incomes are too low to buy appropriate insurance for their properties. I think they Should subsidise in disaster insurance for those who are in vulnerable communities, particularly those of lower income."
Back in March, the National Insurance Brokers Association said that one in 25 Australian homes would become uninsurable within five years, as a result of increasing natural disasters.
