NEWS / Representation
WE ARE YOUR VOICE!
The following is an overview of some of the things NIBA has been examining on behalf of members.
TASMANIAN HOME BUILDING WARRANTY CONSULTATION
NIBA has provided a submission to the Tasmanian Government’s Home Warranty Insurance consultation. The consultation paper sought feedback on the development of a new model for home warranty insurance in Tasmania, putting forward a number of proposals to balance consumer protection with the longterm economic viability of the scheme and building costs. The proposed scheme would use a ‘last resort’ model consistent with most Australian jurisdictions, and provide cover for incomplete or defective building work in the event that a builder dies, disappears or becomes insolvent. Home warranty insurance was previously abolished in 2008, however, the collapse of two construction firms, Tasmanian Constructions and Inside Out Constructions, has prompted the state government to reintroduce the scheme. NIBA’s submission supported the reintroduction of the scheme as a last resort model and the proposed maximum claim limit of $200,000. However, NIBA cautioned that complementary reforms to reduce the overall risk of the scheme would be required to ensure the long-term viability of the scheme.
NEW SOUTH WALES SMALL BUSINESS STRATEGY
NIBA has provided a submission as part of the consultation on the New South Wales Small Business Strategy. The consultation will help inform the NSW Government’s strategy and priorities for small businesses in NSW over the next three years. NIBA’s submission focused on the NSW Emergency Services Levy (ESL) and the disproportionate impact it
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and other insurance-based taxes have on small businesses. The submission also highlighted the increasing burden the ESL poses to insurance policyholders, with the contribution target (the amount collected by general insurers) rising 48 per cent since the decision to abolish the ESL was delayed in 2017.
QUALITY OF ADVICE REVIEW – MEMBER ADVOCACY
With NIBA’s submission to the Quality of Advice Review now in the hands of the independent reviewer, it is time to look ahead to what will happen when the Review is concluded. Any recommendations handed down by the Review will be subject to scrutiny by government and ultimately any
legislative changes will need to pass both Houses of Parliament. For these reasons, NIBA aims to have every federal MP and Senator visited by a local broker, who can provide insight on what they do and how their work benefits their clients. To support members in these conversations, NIBA has developed a number of resources, including a Member Advocacy Guide, speaking points and a leave-behind document which representatives can refer to in future conversations. Members who would like to assist NIBA in developing stronger relationships with federal MPs and Senators should send an email to NIBA’s Policy Manager, Allyssa Hextell at ahextell@niba.com.au, indicating their interest and their federal electorate (if known) or location.
