TC16-11 Mandatory principal arranged insurance (PAI) for all major capital works projects

This circular requires all agencies, other than SOCs, to undertake Principal Arranged Insurance (PAI) through icare (on behalf of SICorp) for all government capital works projects estimated to cost $10 million or more.

SOCs must demonstrate they can acquire PAI at a price more competitive than the price offered by icare. Agencies, including SOCs, 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.

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Download TC16-11 Mandatory principal arranged insurance (PAI) for all major capital works projects PDF 168.49KB Current as of Friday, 09 May 2025.

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Type: Treasury Circulars (TC)
Author: NSW Treasury
Publication Date: 15 August 2016

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