• Document: Underwriting Guidelines
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Home Warranty Insurance Fund Underwriting Guidelines Effective from 1 December 2013 This document has been prepared by: Home Warranty Insurance Fund New South Wales Self Insurance Corporation ABN: 97 369 689 650 PO Box A2615, Sydney South NSW 1235 Tel: (02) 9228 5906 Fax: (02) 9228 3870 E-mail: homewarranty@sicorp.nsw.gov.au Website: www.homewarranty.nsw.gov.au Please contact the Home Warranty Insurance Fund if you have any questions regarding this document. Printed copies for this document are uncontrolled. __________________________________________________________________________________________ Home Warranty Insurance Fund – Underwriting Guidelines – Version 5 © State of New South Wales through NSW Self Insurance Corporation 2013 DOCUMENT DETAILS Document Details Document Title Underwriting Guidelines Version V-5 Effective Date 1 December 2013 File Location G:\SICORP\Home Warranty\Underwriting\documents & forms Owner Home Warranty Insurance Fund REVISION HISTORY Version Date Author Draft Approved Revision Notes 1.0 1 July 2010 Finity Consultant Draft 1.1 19 August 2010 Finity Consultant Draft Crown Solicitors Compliance 2.0 31 August 2010 HWIF Manager Approved BEAT Rating Criteria 2.1 29 September 2010 HWIF Risk Manager Approved 7.1 Name of Application Forms 3.0 16 September 2011 HWIF Underwriting Approved Significant revisions based on 12 Manager months trading 3.0 1 October 2011 HWIF Manager Approved V3.0 Revisions approved 3.1 1 Nov 2011 HWIF Manager Approved 6.3 Major builder segment 11.1 Securities 3.2 1 February 2012 HWIF Manager Approved Consequential changes on commencement of Home Building Amendment Act 2011 4.0 15 Nov 2012 HWIF Manager Approved Significant revisions based on two years of trading 5.0 1 Dec 2013 HWIF Manager Approved Revision approved by HWAIF Underwriting Committee on 12/11/13 __________________________________________________________________________________________ Home Warranty Insurance Fund – Underwriting Guidelines – Version 5 © State of New South Wales through NSW Self Insurance Corporation 2013 Table of Contents 1. Introduction 6 1.1 Guidelines Purpose 6 1.2 Home Warranty Insurance Fund Objectives 6 1.3 Builder Eligibility 6 1.4 Form of Insurance Cover Offered – Certificate of Insurance 7 1.5 Decision-Making Framework 7 1.6 Rating Tools 8 2. Builder Eligibility Assessment 9 2.1 Construction Work Types 9 2.2 Builder Segments 9 2.3 Eligibility Assessment – Non-Financial 13 2.4 Eligibility Assessment - Financial 17 2.5 Other Underwriting Issues 22 2.6 Assessing Turnover and Project Limits 23 2.7 Benchmarks of the Financial Stren

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