Have your say on building defect insurance

The NSW Government is seeking feedback on an insurance scheme offering better protection against apartment building defects. The proposed options aim to improve consumer protections and confidence in the construction of apartment buildings in NSW.

You can have your say on the 10-year insurance scheme for new apartment buildings, called decennial liability insurance (DLI).

• DLI is a strict liability insurance product of first resort that covers critical building elements, such as structure, waterproofing and fire safety systems. 
• It allows building owners to make a claim at any point in the first 10 years post occupation – even if the developer or builder are no longer trading.
• An option is proposed to make DLI permanent and replace the existing two-year scheme after a transition period.

The government wants to hear from developers, builders, insurers, apartment owners and people looking to buy. 

Have your say by Monday 2 October 2023 

Visit www.haveyoursay.nsw.gov.au/protection-apartment-defects to complete a survey, do a quick poll, or make a formal submission using an online form on questions in the Regulatory Impact Statement. You can also read the Regulatory Impact Statement and find out more about the topic. 

Your feedback will help ensure we consider industry and owners’ needs and interests.