NSW Home Building Compensation Fund (HBCF) reforms take effect on 3 October 2017 05/09/2017
In November 2016, the NSW Government made an announcement outlining reforms to the Home Building Compensation Fund (HBCF) over the next 12 to 18 months to ensure its financial sustainability and ability to protect homeowners now and into the future.
As part of the most recent reforms;
- icare (Insurance & Care NSW) has appointed a revised panel of HBCF Distributors. All registered builders in NSW wishing to purchase insurance from icare must select a licensed Distributor to manage their HBCF needs from 3 October 2017. MBA Insurance Services (MBAIS) is one of a select group of brokers to have been granted a licence to act as a Distributor of icare.
- the second of up to four rate changes also comes into effect.
- the launch of the builder self-service portal enabling builders to submit policy applications online as well as to view their policy, eligibility and pricing data.
If MBAIS is your current Home Owner Warranty (HBCF) broker, you don't need to do anything.
We will communicate more about these reforms in the lead up to 3 October.
For further information about the reforms contact one of the following MBAIS staff members on 1300 MBA NSW (1300 622 679) or firstname.lastname@example.org
Not a client?
MBAIS employs specialist staff with financial literacy skills and extensive HBCF experience. We work closely with clients and their Accountants to collectively provide positive outcomes for your business.
To appoint MBAIS as your HBCF Distributor complete our Letter of Appointment form and return to us.
Leeanne Farmer – Home Warranty Team Leader Mark Barnes – State Manager