Insurance policies for construction

Construction projects valued $10 million and over

For all NSW Government capital works projects with an estimated total cost of $10 million or more, all agencies, other than state owned corporations, are required to undertake Principal Arranged Insurance (PAI) through icare. State owned corporations must demonstrate that they can acquire PAI at a price more competitive than the price offered by icare.

Construction projects valued under $10 million

Agencies, including state owned corporations, are able to decide whether or not to insure for projects under $10 million. However if they decide to insure projects under $10 million, PAI must be organised through icare.

Please see Treasury Circular 16/11 for more information.

Current insurance policies for construction projects

From 9 July 2019, agencies taking out a PAI policy under the Construction Risk Insurance Fund (CRIF) will need to go to the icare portal. (The existing portal will be decommissioned on 30 June 2019). Agencies seeking a quote or policy from CRIF between 1 July – 8 July 2019 are requested to contact the CRIF team directly.

icare contact details

Construction insurance resources