More than 300,000 residents of greater Sydney are exposed to high risk of bushfires, new analysis shows, prompting warnings that more pre-emptive action is needed to curb growing threats posed by natural disasters.

The analysis from consultancy SGS Economics and Planning maps insurance data and natural peril risk levels across local government areas in NSW, Victoria and Queensland. It shows millions of residents across these states are living with risk from floods, storms, bushfires and earthquakes.

As worsening bushfires in NSW continue to claim lives, destroy homes and blanket parts of the state in thick smoke, the analysis has revealed more than half a million residents across the state live in local council areas facing high or extreme risk of bushfires this summer.

"Australia is full of natural perils," said Terry Rawnsley an SGS Economics and Planning economist and author of the report. "It's important that residents, businesses and governments recognise the risks they face because of those perils."