The Government is reforming the NSW HBCF so that it can operate sustainably and continue to protect homeowners.
The NSW State Insurance Regulatory Authority is consulting in relation to a proposed new licensing framework for a competitive Home Building Compensation market place. NIBA has invited any brokers with interest in this area to contact CEO Dallas Booth for further information relating to these reforms.
NIBA will continue to be involved in being the voice of brokers as the new home building compensation scheme is being designed. New guidelines and regulations will be finalised and implemented in early 2018.
For more information on the reform, see SIRA’s website here.