The NSW Government has announced its renewed push to bring Decennial Liability Insurance (DLI) into the NSW market with the passing of its Fair Trading and Building Legislation Bill. 

DCI is 10-year defect insurance for apartment buildings and is supposed to give apartment owners protection against the cost of fixing serious building defects. 

According to the Government,  the Bill lays out the "final piece of legislative groundwork" necessary to establish DLI. 

The Building Commissioner says that it will work with a number of prospective DLI providers to "help align their policies with the new legislative requirements." 

DLI was championed by the former Building Commissioner, and the NSW Government has had a longstanding commitment to bringing it to market, despite a lack of providers historically willing to offer the product. 

The Government says the new legislation also means: 

• Strengthening NSW’s property and construction licensing schemes by giving NSW Fair Trading and Building Commission NSW clearer powers to refuse applications or cancel licences obtained through misrepresentation, error or invalid qualifications.
• Empowering NSW Fair Trading to ensure unsuitable applicants with a history of misconduct are prevented from entering the conveyancing industry, and that dodgy industry players across the property and conveyancing industries are more swiftly removed.
• Providing Building Commission NSW stronger powers to hold private certifiers accountable for misconduct – stopping certifiers from being able to surrender their registration to prevent disciplinary action being taken against them.