How to apply for a licence

Licence holders are responsible for managing eligibility criteria for builders, efficient pricing of policies or contributions and scheme experience and outcomes for homeowners.

Application requirements

Licence applicants will need to meet a number of requirements for capacity, capability and processes to be legally authorised to carry out HBC business.

Prospective applicants are encouraged to contact us as early as possible so we can discuss the application process, legislative and licensing requirements and our expectations.

Read more about how to apply and the information required here

Licensing requirements

Licensing requirements for both licensed insurers and providers may include:

  • Conduct

    There is a range of conduct requirements that licence holders must follow to ensure a licence holder conducts its business efficiently, honestly and fairly.

  • Compliance with laws

    A licence holder must ensure that it complies at all times with its legislative obligations including the requirements of the Act, regulations and the HBC insurance guidelines

  • HBC business data

    Upon our request, a licence holder must provide data, reports and information relating to its HBC business.

  • Self-audits

    A licence holder must provide us with the results of its eligibility determinations, claims management performance and data quality self-audits.

  • Notifications

    Licence holders must notify us of changes in their control or ownership and of any significant matter including legislative breaches or matters that may affect their business operations or the HBC scheme.

Ceasing to be a licensed insurer or provider

A licence holder must provide us with at least three months’ notice if ceasing business.

There may be additional requirements for licensed providers such as:

  • Ownership and control

    Fidelity funds need to be structured as a trust with a corporate trustee.
    The licensed provider must be domiciled in Australia and must seek our approval to any proposed changes in corporate structure.

  • Governance

    Licensed providers must have a minimum of five directors with the majority independent and ordinarily resident in Australia.

  • Constitution

    Licensed providers must comply at all times with its constitution or trustee and seek our approval to any proposed changes.

  • Competency

    Licensed providers are to appoint responsible managers to make decisions about significant day-to-day ongoing operations and provide a listing of the responsible managers to us on an annual basis.

Licensing requirements will be determined on an individual basis at the time of application and during the term of licence allowing for proper notice to the licence holder.

How to apply

1. Complete an application form for a HBC licence and provide the information outlined in the licensee application guidelines.

2. A fee of $50,000 is payable by an insurer applicant and $60,000 by a provider applicant before we grant a licence.

For more information you can email

Further information

Licensing framework documents

HBC Guidelines