CBS has responded to the Government’s newly announced reforms requiring compulsory home building warranties and mandatory professional indemnity insurance for key industry professionals under upcoming changes to the Building Act. CEO Carl Taylor says the reforms mark a major structural shift for the sector, moving the industry toward a fairer liability model where homeowners can trust defects will be addressed and builders have clearly apportioned responsibility. However, CBS has raised a critical concern about implementation, warning that if only a small number of warranty or insurance providers are approved, the reforms could unintentionally create a new market monopoly that drives up pricing for builders and homeowners alike. CBS is calling for open access and transparent criteria so any builder who meets the standard can access affordable, independent warranty options.