The objectives of HBCF’s Eligibility model are to:

• Provide insurance that satisfies the requirements for a licensed insurer under Part 6 of the Home Building Act 1989 and complies with all SIRA guidelines.
• Ensure that builders can take on a level of work (and have access to insurance cover) commensurate with their capacity to do so.
• Minimise unnecessary disruption to the NSW residential construction industry and ensure a consistent approach to the underwriting of insurance without consideration of market influences and to support a strong and viable residential building industry.
• Deliver services on a financially prudent basis to manage the risk of loss.
• Take an even-handed and consistent approach to underwriting and to minimise the risk of events (such as builder insolvency) which are grounds for a claim. As HBCF assumes liabilities that extend for six years (or sometimes beyond) from completion of building works it is fundamental to its objectives that businesses trade without financial stress and with the capacity to absorb external shocks.