Wednesday, April 24, 2024

EOI call for high-rise dwelling insurance advisory panel

Expressions of Interest are being sought for an LGNSW representative to serve on a new Ministerial Advisory Panel as part of a raft of reforms designed to protect buyers of high-rise apartments. 

The Panel will be tasked with developing and assessing the potential introduction of Decennial Liability Insurance (DLI), which covers unit owners against significant defects that may arise in the first ten years after completion.

“No such warranty cover has been available for residential apartment buildings over three storeys since 2004, making this an important potential safety net for unit buyers and investors in NSW,” LGNSW said in a statement.

The Panel will be required to produce a technical report providing expert guidance to the Minister for Better Regulation and Innovation on existing international schemes, feasibility, market interest, pricing, governance and regulatory requirements.

Criteria for the two-year, remunerated appointment include demonstrated expertise in insurance, finance, architecture, planning and/or engineering.

For further information or to express interest in this role, please contact LGNSW Planning Strategy Manager Jane Partridge.

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