Minister for Better Regulation Kevin Anderson said bolstering the private sector’s involvement in raising industry standards and developing a long-term solution to the ongoing insurance crisis has been a key focus of the national Building Ministers’ Forum.
“In late 2019 I joined my fellow Building Ministers across Australia in calling on occupational associations to help us turn the sector around and start to rebuild the public’s trust and confidence in it,” Mr Anderson said.
“A big part of this push was to encourage industry associations to step up and be part of the solution by developing Professional Standards Schemes as a matter of priority.
“That message has been heard loud and clear. It is hugely encouraging to see that the Australian Institute of Building Surveyors, Strata Community Association (NSW) and the Australian Property Institute Valuers have applied to the Professional Standards Councils to run new schemes. I would encourage other occupational associations to consider following their lead.
“The Government can’t do all the heavy lifting. It’s great to see industry stepping up and changing behaviour, ensuring that members of their profession are operating at a high standard and their work is of the highest quality and in turn reducing risk in the market”.
Professional Standards Schemes are legal instruments that bind associations to monitor, enforce and improve the professional standards of their members, and protect consumers of professional services.
Mr Anderson said an increase in professional standards would in turn soften the State’s hardened professional indemnity insurance market.
“There is no question that by industry standing up Professional Standards Schemes, insurers will be confident to return to the local market,” Mr Anderson said. “This is a great win for the sector and a great win for consumers. To have your say on the scheme applications visit the Professionals Standards Councils website.