NSW – Latent Defects Insurance – a game changer?

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A new insurance product, Latent Defects Insurance, is set to transform the insurance framework for high rise residential buildings. This is especially so if the NSW Government makes it mandatory or creates the right economic environment for this product to evolve. This is a major development in the context of what the media has called the “building compliance crisis,” and the recent sweeping legislative reforms aimed at restoring consumer confidence in the NSW residential construction industry. This new product will have an impact other lines, including residential strata insurance and professional indemnity insurance.

In this seminar, Wotton + Kearney’s Rob Finnigan and Ed Burrell will explore why the government is so keen on this product, what it is meant to cure, how it operates, the insurance landscape, and the prospects of it becoming a mainstay of the NSW insurance market.




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