On 15 March 2001, HIH Casualty and General Insurance Limited (HIH) and FAI General Insurance Company Limited (FAI), collapsed.
The NSW Government established a rescue package to assist victims of the HIH collapse who were covered by a HIH or FAI Home Warranty Insurance policy. Under this package, claims paid to consumers will come out of the Building Insurers’ Guarantee Fund.
The administration of the Building Insurers Guarantee Corporation was transferred to NSW Treasury's Self Insurance Corporation trading as the Home Warranty Insurance Fund in August 2011. For further information on policies and claims, please see the Home Warranty Insurance Fund website.