Insurance and Care NSW (icare) provides services in the administration of the Home Building Compensation Fund for the NSW Self Insurance Corporation (icare HBCF). icare HBCF uses an outsourced service model, with contractual arrangements with scheme agents. Gallagher Bassett Services Pty Ltd is the claims manager and manages claims on behalf of the icare HBCF. Corporate Scorecard is the eligibility risk manager and assesses builder eligibility on behalf of the icare HBCF.

icare HBCF is a licensed provider of insurance under Part 6 of the Home Building Act 1989, also known as home building compensation (HBC) insurance. The State Insurance Regulatory Authority (SIRA) regulates the market for this insurance, including the licensing of providers and oversight of the operation of the home building compensation scheme.

HBC insurance is an integral component of the government’s consumer protection strategy for homeowners having building work undertaken in New South Wales. It provides a safety net for homeowners when their builder is unable to meet their obligations under the building contract due to insolvency, death, or disappearance. The safety net is also provided where the builder’s licence is suspended because they fail to comply with an NSW Civil and Administrative Tribunal (NCAT) or Court order to pay compensation to the homeowner.