icare HBCF is proceeding with its implementation of risk based pricing for the NSW home warranty insurance scheme.
New information was published on the HBCF web site on 18 January 2017, and any insurance broker involved in this business should have a careful look at the material now available on the site:
HBCF has prepared letters to go to all builders in NSW regarding the new premiums. NIBA is interested in feedback from Members regarding the reactions of builders to the new home warranty premiums. Please note the comment on the HBCF web site: “Builders should consider including additional premium pricing when quoting for new contracts with homeowners.”
FAQs in relation to reforms for Insurance Brokers are available on the icare website.
IMPORTANT: HBCF has issued new distributor agreements for brokers, via their insurance agents, QBE and RBUA. Brokers are required to sign and return the new agreements by 31 March 2017.