Global loss adjuster Sedgwick hosted a forum for residential builders and the broader construction industry last week amid concern over insolvencies and property defect claims.

The forum, held at the Museum of Sydney on October 11 and moderated by Building Consultancy Services Manager Paul Riches, was “an important step to help industry stakeholders understand the current challenges in the construction market,” it said.

After an address from keynote speaker NSW Department of Customer Service Building and Construction Policy Director Angus Abadee, a panel included Housing Industry Association Chief Economist Tim Reardon and Master Builders Association of NSW Executive Director Brian Seidler.

“As a leader in the home warranty sector and a prominent provider to state government schemes nationally, Sedgwick has been actively monitoring the ongoing concern of insolvency and defect claims. The forum is an important step to help industry stakeholders understand the current challenges in the construction market.

“It was concluded that concerns continue to remain within the industry and government stakeholders,” Sedgwick said, adding that the state continues to act with legislation.

“It is critical adequate consumer and builder protection measures remain in place and continue to evolve to protect homeowners thoroughly while they navigate home building compensation claims.”

Sedgwick says current shortages are impacting everyone in the supply chain, and the forum centered on insolvency of builders, consumer protections and home warranty claims, supply challenges and resilience and quality, including regulator programs for disputes and financial strain.

It also considered how building with resilient materials can help mitigate against the likelihood of defects.

The panel agreed consumers face “financial and wellbeing implication” when going through the home warranty claim space.

“Having visibility to the trends today and what the market will be facing in the next 10 years can help the industry respond and evolve together,” Sedgwick EGM home claims and building services Daniel Sirone said.