As a provider in the NSW home building compensation scheme, icare hbcf provides a safety net for homeowners in NSW faced with incomplete and defective building work carried out by licensed builders and contractors, for residential building work over $20 000.
We do this by carrying out a risk assessment of builders’ and contractors’ eligibility to obtain insurance cover. Certificates of Eligibility set out how much work a contractor can take on.
Once a builder or contractor has eligibility with a provider, they can apply to that provider for a Certificate of Insurance for individual projects which they contract to do.
Home Building Compensation scheme cover is compulsory
Reference to builders and building work includes and applies to work done by trade contractors and other building contractors such as electricians, plumbers, carpenters, swimming pool builders etc.
Builders and contractors are required to provide evidence of cover (for example, icare hbcf will issue a Certificate of Insurance) to the homeowner before starting any work or accepting any money, including a deposit.
Applications to icare hbcf for a Certificate of Insurance can only be made once a builder or contractor has a certificate of eligibility. As a builder or contractor, your certificate of eligibility determines the maximum value and number of construction projects you can have open at any given time. It also certifies the maximum contract price for each type of construction work you’re eligible to do.
Applying for eligibility through an icare hbcf broker distributor
Only brokers who are approved as icare hbcf distributors can act on behalf of builders and contractors in applying to icare hbcf for eligibility and Certificates of Insurance for jobs.
Approved distributors act as a builder’s advocate in dealing with our Eligibility Risk Manager, Corporate Scorecard. The distributor will ensure that complete and accurate information is submitted on your behalf so that the Eligibility Risk Manager can make a fully informed decision when undertaking its risk assessment.
We currently work with Corporate Scorecard, our Eligibility Risk Manager to undertake eligibility risk assessments for hbcf insurance.
The Eligibility Risk Manager manages the risk assessment functions on behalf of hbcf.
Find an approved broker distributor
Applying for a certificate of insurance through a broker distributor
Where eligibility for insurance with icare hbcf has been approved, the distributor can then process applications for Certificates of Insurance for individual projects on your behalf.
You must obtain a certificate for each project that you undertake before it begins, and before you receive any payment (including a deposit) under the building contract.
You just need to submit your project application to your broker, who will issue you a Certificate of Insurance on behalf of hbcf (assuming all requirements are met).
Eligible builders and contractors can also make an application online through our Builder Self-service Portal.
Lodging a dispute
If you are unhappy with a decision made about your eligibility application or an application for a Certificate of Insurance, you can lodge a dispute.