Construction Update for the Insurance industry - Issue 3

I am delighted to present the third issue of the Sparke Helmore Construction Update for the Insurance industry.  In this edition, we’ve adopted a shorter format, focusing on a few key topics.

We begin with a discussion on the state of the industry. While there are challenges and bumps in the road, there is still a significant amount of work in the pipeline, and the future looks positive. The biggest challenge is getting that work done, so training programs are being introduced, and increasing productivity remains a key focus area.

Next, we comment on the race to renewables, highlighting the wealth of developments in the renewable energy sector.

In the Building Reform section, we outline key legislative and regulative changes implemented across the country. These reforms aim to enhance the quality of construction work, boost consumer confidence, and achieve net-zero emissions in the built environment by 2050. The proposed new risk-based Building Product Registration Scheme will represent a significant change.

The Non-Compliant Building Products section provides an update on cladding rectification programs and claims, which are largely coming to an end, with the exception of those in Victoria.

We also provide brief updates on the state of proportionate liability and disclosure in an insurance context. I hope you find this issue informative and useful. If you would like any further information on the issues discussed, please contact me or any of the team listed on the last page of the publication.