Share this
Twitter
Myspace
Digg
Del.icio.us
Yahoo
Newsvine
Googlize this
Facebook
Hear this text
E-mail
The Housing Industry Association (HIA) is the nations only supporter of the Warranty Insurance and their position enables Governments to maintain this insidious regime which will see increased red tape and upheaval for most of its registered builders and no improvement for our consumers.
The Facts as known on the 7th June 2010
Victoria: QBE in partnership with the Vic Govt will deliver the warranty from the 31st May
NSW: QBE & Calliden will deliver the warranty on behalf of the Govt from 1st July 2010
WA: QBE & Calliden will deliver privatised warranty as it has been for another 3 years
SA: QBE & Calliden we believe will deliver privatised warranty as it has been for another 3 years
What wll be different and what are the terms & conditions and premiums?
Premiums are yet to be known however significant gouging is taking place.
Securities are still being sought in many cases
Victoria: All builders who had a letter of eligibility from January 2009 will be grandfathered into the new scheme on comparable terms (not the same in all cases) and all others and will be subject to a new assessment.
NSW: All builders who had a letter of eligibility from January 2009 will be grandfathered into the new scheme on comparable terms and all others will be subject to a new assessment. An additional requirement for any builder who has had any form of financial issues will be directed to employ what they have termed a managed option. (Managers of your business)
WA & SA: Should be much the same as before.
Overview
There is no doubt our industry will yet again suffer severely from these new arrangements while our consumers will see no improvement whatsoever. However all States Governments and more specifically the major States will benefit handsomely as they now become the recipients of the premiums which will increase dramatically while owner & bad builders will further increase to the detriment of our industry. In a nutshell same horse different stable
The HIA is the major warranty insurance broker, and continues to place its commercial interests ahead of those of the builders of this nation.