HBC eligibility and premium standards consultation
We want your opinion on eligibility and premium standards for the reformed home building compensation scheme in NSW. See here for more information.
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The Issue
Consultation period: 18/08/2017 8:30 am to 15/09/2017 11:59 pm
As regulator, SIRA is consulting on key design features of the new Home Building Compensation Scheme before it commences in 2018.
We have released two discussion papers:
- Our Home building premium guidelines discussion paper looks at how premiums should be calculated and assessed.
- Our Home building eligibility guidelines discussion paper looks at how building contractors should be assessed for eligibility for insurance.
Please read them before answering the questions in our online form below.
Your feedback will help us develop the guidelines that will apply under the reformed scheme. For more information about the reforms themselves, see our home building compensation reforms section.
Don't miss this important opportunity to have your say.
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Milestones
- August to September: Consultation on premiums and eligibility
- September to November: Consultation on business planning, prudential regulation, claims handling, provider licensing and market practices
- October to November: Consultation on regulations
- Early 2018: New guidelines and regulations finalised and implemented
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Outcomes
15 submissions were received as part of this consultation.
The Home building eligibility consultation summary report and the Home building premium consultation summary report provide high level summaries of the key themes articulated in those submissions. All non-confidential submissions are available on the link below.
The information provided will be used to develop detailed guidelines which will be part of the new Home Building Compensation Scheme.
We will continue to consult and engage with stakeholders through the development and implementation phases.
Any questions or enquiries should be emailed to [email protected]