The HBCF provides NSW homeowners with support if their builder is unable to complete building work or fix defective work in certain circumstances.
The new report aims to provide a deeper understanding of the experiences that NSW builders have when applying for eligibility to undertake building works and for homeowners claiming builders warranty insurance through icare's HBCF.
The 25 recommendations published in the report are targeted to each customer base, homeowners and builders, and are focused on delivering improved customer experiences and outcomes that are fair and in their best interest.
icare Customer Advocate Darrin Wright said, "The Home Building Compensation Fund Review process enabled the gathering of valuable feedback from NSW builders and homeowners, which can enhance existing processes and improve the experience that they have when engaging with icare."
To complement the HBCF Review, icare has published its official response to the report which in the main supports the customer advocate's recommendations to improve services to its HBCF customers by simplifying and streamlining processes, augmenting transparency and education of the product and scheme, and ensuring consistency and understanding of services for all parties involved.
icare Group Executive Prevention and Underwriting Andrew Ziolkowski said, "We welcome the Customer Advocate's HBCF Review report, which findings address the challenges facing NSW builders and homeowners and provide a clear approach to improve existing processes and the experience of our customers."
View the HBCF Review report and icare's official response on the Customer Advocate page.