We are increasing construction limits in response to rising construction costs and feedback from builders.

Our new eligibility reviews will streamline application workflow, reduce administrative overhead, and enhance the overall efficiency in reviewing applications and granting approvals for more builders. These changes apply automatically from a builder’s next eligibility review and for any new builder taking on their first residential building project.

Builders can choose how they engage with HBCF

All builders will have choice over how they engage and transact with icare HBCF.

Under the new Eligibility Manual, builders can choose to continue with a trusted representative, choose a new representative, or use a new simplified portal. The builder’s representative can be any trusted third-party, including a distributor or broker.

Improved security for homeowners

These updates form part of HBCF’s ongoing work to improve the Scheme, ensuring it continues to meet the needs of builders and homeowners.

Seven good indicators for determining how likely a builder is to trigger future claims (for example, undergo a Business Closure within the next five years) have been identified by our actuaries. We’ve used these to refine our eligibility review and improve the model’s performance and predictive accuracy.

Improved eligibility assessments mean that builders are more likely to have the skills and experience required to successfully deliver on their contract to the homeowner.

The Building Contract Review Program (BCRP) is being retired on 2 March

The program was introduced in 2013 with the aim of helping builders seeking eligibility for higher cost building projects. This change aligns with HBCF’s transformation goals, streamlined operations, and reflects a shift toward smarter risk management.

While the program has served a purpose over the years, a recent review by the icare underwriting team and feedback from builders and industry indicate it is no longer delivering the intended value and duplicates other regulatory processes. We’d like to recognise and thank the providers of this program for their contributions to reducing residential building risk.

We are committed to a fair and respectful transition over a six-month window. Builders who are currently subject the BCRP condition will be offered an opportunity to request early removal. Builders and BCRP providers will be supported to finalise BCRP activity by 2 September 2026.

Looking ahead

The launch of the new manual in March 2026 sets the foundation for broader changes in how HBCF partners with builders and the market.

In 2026 we’ll be launching a new HBCF Portal to manage eligibility and cover and streamline the claim process for homeowners.

icare remains committed to protecting homeowners and supporting builder success through practical, meaningful services.