NSW building industry’s mandatory insurance requirements begin to take shape
On 17 November 2020, the NSW Government released the Draft Design and Building Practitioners Regulation 2020 (NSW) for public consultation, which is designed to support an effective legislative framework for industry reform. Insurers will need to know what mandatory insurance requirements will be put in place for design and construction practitioners. Whilst not in a final form, the Draft Regulation provides guidance about what legislators are planning to do in this area.
In this update, Andrew Moore, Robert Finnigan and Luke Vincent look at the implications for insureds, insurers and brokers.
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