New home warranty insurance arrangements

New Home Warranty Insurance arrangements for NSW commenced on 1 July 2010 when the NSW Self insurance Corporation took over as the sole provider of home warranty insurance within NSW. The NSW Self Insurance Corporation trades as the NSW Home Warranty Insurance Fund.

The new Scheme is underwritten and capitalised by the Government and funded by warranty insurance premiums.

Since 1 July 2010 certificates of insurance have been issued on behalf of the Home Warranty Insurance Fund by its insurance agents, Calliden Insurance Limited and QBE Insurance (Australia) Limited.

Between 1 July and 30 September 2010 Vero Insurance Limited also issued certificates of insurance as an agent on behalf of the Home Warranty Insurance Fund. From 1 October 2010 Vero ceased to be an agent.

In order to minimise disruption builders holding eligibility with home warranty insurers on 30 June 2010 had their eligibility automatically transferred to an insurance agent for the new NSW Home Warranty Insurance Fund from 1 July 2010.

Builders and trade contractors should continue to contact their insurance broker to obtain policies and certificates of insurance for construction projects.

Cover for building projects already issued by insurers will remain in force for the duration of the policy, allowing consumers to make claims where necessary.

Further information about the new scheme is available on the Home Warranty Insurance Fund website (www.homewarranty.nsw.gov.au).