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.

Download

Download TC16-11 Mandatory principal arranged insurance (PAI) for all major capital works projects PDF 168.49KB File last updated on: 09 May 2025.

If you have any accessibility feedback or concerns related to this resource, please contact us.

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

Tagged in

Business and economyMoney and taxesNSW GovernmentFinancial Management
Print this page
Top of page