The icare hbcf provides a safety net for homeowners who have contracted for residential building work and their builder has been unable to honour their commitments under the building contract due to insolvency, death or disappearance. The safety net is also provided where the builder's licence is suspended for failure to comply with a Tribunal or Court Order to pay compensation to the homeowner.
Insurance under the HBCF is required to be obtained by builders for all residential construction projects over $20,000.
NSW Fair Trading is hosting free Home Building Expos across New South Wales commencing from 28 July 2016. HBCF will be delivering presentations at all venues and have staff on hand to answer questions. The Program Schedule can be downloaded here.
Fair Trading Commissioner is encouraging local licensed builders, tradespeople and their partners to attend the expo. Builders will accrued 3 CPD points by attending these expos. For further information please visit Fair Trading.
icare (Insurance and Care NSW) was created in September 2015 through the commencement of the State Insurance and Care Governance Act. icare is a Public Financial Enterprise governed by an independent Board of Directors that delivers insurance and care services to the people of New South Wales.
The NSW Self Insurance Corporation (SICorp), Home Building Compensation Fund (HBCF) along with other like agencies such as the Workers Compensation Nominal Insurer, Lifetime Care and Support, Sporting Injuries Compensation and the Dust Diseases Authority have joined icare.