Eligibility Risk Management
Corporate Scorecard, through its Residential Builder Agency business unit, provides an efficient and customer-centric assessment service for determining the eligibility of builders in New South Wales to obtain insurance under the Home Building Compensation (HBC) scheme via Insurance and Care NSW (icare HBCF). Icare HBCF provides services to the NSW Self Insurance Corporation (SICorp) under section 10 of the NSW State Insurance and Care Governance Act 2015. SICorp is taken to be a licenced insurer for the purposes of Section 105B of the NSW Home Building Act 1989.
Corporate Scorecard acts as an agent for icare HBCF for the provision of eligibility risk management services. The HBC scheme, established under the Home Building Act, is part of the NSW Government’s consumer protection strategy for homeowners having residential building work of $20,000 or over, done. The HBC scheme compensates NSW homeowners for incomplete or defective residential building work when the licensed building contractor is no longer around to fix it.
Icare HBCF, through Corporate Scorecard, carry out a risk assessment of building contractors prior to granting eligibility to obtain HBC cover. Certificates of Eligibility set out how much work a building contractor can take on. Once a building contractor has eligibility, they can apply for a Certificate of Insurance for each project, which they then supply to the homeowner.
Building contractors looking to obtain eligibility with icare HBCF must direct their application through
an approved distributor. A list of approved distributors can be viewed at
Through the provision of credit risk management services, Corporate Scorecard knows the construction industry well. This includes an intimate understanding of the residential construction sector.
Corporate Scorecard is a leading provider of credit ratings and counterparty risk assessment services in Australia. As a licensed Credit Rating Agency [AFSL#341391], Corporate Scorecard operates within a regulated industry to ensure the quality and integrity of the assessment process. Corporate Scorecard is a wholly owned subsidiary of Equifax [NYSE: EFX], which is a leading global data and analytics company focused on continuous, customer-centric innovation. Equifax has a long history in providing credit risk management services, and leverages public and proprietary data, tools and technology to support a range of delivery models, providing efficient, scalable and reliable risk management services.