The NSW Government is reforming the home building compensation scheme so that it can operate sustainably and continue to protect homeowners.
Here is information about key aspects of the reforms.
Why reform is needed
The home building compensation scheme is being reformed to address problems with financial sustainability and make it more efficient and effective.
What reform means for homeowners
The NSW Government’s reforms will maintain the high levels of protection that are currently available to you.
What reform means for builders and tradies
You must still buy cover for each project over $20,000, but there will be changes to the types of cover you can get.
What reform means for insurers and providers
Private sector insurers and alternate indemnity providers will be able to enter the market alongside the government insurer, icare hbcf.
Have your say
You will be able to have your say on guidelines and regulations to support the reforms.