Are your property Sums Insured adequate?When was the last time you reviewed your sums insured? Do you know that the cost ofrebuilding has increased significantly over the last few years due to factors such as the lackof experienced tradespersons, increases in the cost of materials (especially steel products).The decrease in the Australian Dollar against overseas…
The Design and Building Practitioners Act 2020 (NSW) (DBP Act) was a major reform aimed at restoring public confidence in the New South Wales building industry. The Act introduced registration and insurance obligations for any design, engineering, project managers and building practitioners working on Class 2 (i.e. multi-dwelling) buildings or mixed use buildings with a…
If you’re a builder in NSW, you have flexibility in how you manage your Home Building Compensation Fund (HBCF) cover. There’s no single “right” way to do it — the best option is the one that fits how your business operates. No matter which option you choose, you remain responsible for the information submitted and…
In Australia, primary contractors have several obligations when engaging subcontractors. These responsibilities ensure compliance with workplace laws, fair treatment, and safety standards. Here are the key obligations: 1. Work Health and Safety (WHS) Responsibilities Primary contractors must comply with Safe Work Australia guidelines and state-specific WHS laws. They cannot transfer WHS duties to subcontractors and…
Assessing risk is crucial for any business to ensure long-term success and sustainability. Here are some steps businesses can follow to perform effective risk assessments. Identify Risks Analyse Risks Prioritise Risks Mitigation Strategies Develop plans to reduce, eliminate, or manage risks. For example: Monitor and Review Use Tools and Resources Integrate Risk Management into Decision-Making
Construction insurance has come a long way from its modest beginnings, evolving to meet the demands of a rapidly advancing and high-risk industry. As construction projects grow larger and more complex, the need for specialised insurance solutions has become paramount. This article explores the history, development, and current trends in construction insurance, highlighting how the…
The Housing Industry Association (HIA) has released its forecast for new dwelling starts in New South Wales (NSW) for the year 2025. With the construction industry facing various economic, regulatory, and market challenges, the HIA’s forecast provides valuable insights into the expected growth and trends in new housing projects. This article delves into the key…