NSW Home Warranty
Update on NSW Home Warranty Insurance - 1/07/2010
We wish to advise that all eligible builders with MBAIS have now been transferred to the Self Insurance Corporation (SICorp) facility and it is business as usual.
Update on NSW Home Warranty Insurance - 9/06/2010
Yesterday the NSW Treasurer announced some major changes to the way in which Home Owners Warranty insurance will be arranged moving forward
From 1 July 2010, the NSW Government, through the Self Insurance Corporation, will become the sole underwriter of Home Owners Warranty insurance in NSW.
Whilst the Government will underwrite the risk, the administration of the product will be handled by two Insurance Agents, QBE and Calliden.
Fortunately for builders, MBAIS will remain a key distributor of this product, hence changes to the way in which this insurance is currently transacted will be minimal.
Builders who are currently eligible will be transitioned to the new Scheme under comparable conditions to what exists for them now.
Whilst Vero was not granted an Agency under the new arrangements, there will be a 3 month transition period (i.e. up to 30 September 2010) which will allow MBAIS to smoothly transfer any business that is currently with Vero, to one of the other Agents.
Members who are insured through MBAIS do not need to take any immediate action. We will be contacting you in the near future with details about your ongoing eligibility and premiums. You should continue to lodge your applications through MBAIS.
Members who are not insured through MBAIS are encouraged to contact us about arranging cover for you. MBAIS are experienced in all facets of construction and building insurance, and you can rely on us to provide the best assistance possible throughout this transition phase and beyond.
For Further Information, please call MBAIS on 1300 780 095 or (02) 8586 3519