How risk profiles and a rating system for the building industry will drive regulatory action.
A risk-based approach that focuses on the riskiest players
We will move away from a ‘one size fits all’ model to a risk-based approach where regulatory attention is focused on the riskiest players.
We will do this by:
creating a digital platform for the building regulator that merges data from different inspections and other regulators to provide greater intelligence, data sharing and targeted compliance action including occupation certificate audits
developing internal risk rating capabilities to identify the relative risk of project teams with a focus on developers, builders and certifiers.
To achieve this we will:
collaborate with insurers, financiers, risk rating agencies and building industry practitioners to develop publicly accessible rating tools provided by regulated rating businesses
apply rating information to complement existing data held by regulators
provide building inspectors with easily accessible information about the building site and history of inspections to support their assessments.