With the cost of natural disasters expected to reach $39 billion a year by 2050, the federal government is focused on building a resilient Australia.
Emergency Management Minister David Littleproud pointed to the recent bushfire crisis in his annual disaster risk reduction statement to parliament.
"The extraordinary nature of these events have highlighted the need to build resilience," he said on Wednesday.
"Reducing disaster risks ... must become business as usual as we adapt to a changing climate."
Labor frontbencher Catherine King said Mr Littleproud's statement would have been useful before the bushfire crisis.
"The government refused an opportunity to prepare for this bushfire season before it was too late," she told parliament.
"The government has been one step behind the entire way because they had no plan."
Mr Littleproud said natural disasters now cost $18.2 billion per year, but that price tag was expected to more than double to $39 billion by 2050, "even without accounting for a change in climate".
"The broader social costs are estimated to be at least double this," he said.
He warned insurance was becoming increasingly unaffordable in some parts of the country.
"Disasters not only cost the economy, they hit hip pockets hard. Reducing risk is the only sustainable way to address affordability."
Independent MP Zali Steggall criticised Mr Littleproud's coalition colleagues as well as Labor for not having more people in the House of Representatives to hear the speech.
"Have they forgotten what happened this summer already?" she said on Twitter.
Meanwhile, a parliamentary committee examination of land management, including hazard reduction burns, has been dumped now a royal commission into the bushfire disaster has been set up.
Committee chair Ted O'Brien said MPs didn't want to duplicate the work of the royal commission and would give the larger inquiry the evidence and submissions gathered over the past three months.
Australian Associated Press