NSW Home Warranty Insurance update for brokers

Following the government announcement about the reforms to the HBCF insurance scheme to ensure the Fund regains financial sustainability, icare has commenced implementing the reforms through a series of changes. There was a delay to the implementation last week, but NIBA understands the reform agenda is under way once again.

The reforms include changes to premiums over the next two years to ensure the scheme’s sustainability and the introduction of risk based pricing, so that premiums better reflect a building contractor’s individual level of risk.
Any brokers who are involved in NSW home warranty should ensure they are up to date with developments.  Full details are available on the HBCF website. FAQs in relation to reforms for Insurance Brokers are available on the icare website.
If you want to read previous posts about the reforms you can do so here, here, here and here.