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Speaker 1: So we've got more detail on the government's reorganization of

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Speaker 1: construction warranties coming for all new homes and renovations over

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Speaker 1: one hundred thousand dollars. They'll cover you for one year defects,

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Speaker 1: ten year structure, all the bills about half of a

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Speaker 1: percent of the total build price. Carl Taylor is the

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Speaker 1: CEO of Combined Building Supplies co OP and is with us. Carl,

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Speaker 1: good morning, Good morning, Mike.

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Speaker 2: How are you.

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Speaker 1: I'm very well. Indeed, is this a fixes? This? The

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Speaker 1: problem solved? Do I never have to interview you about

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Speaker 1: problems like the civil Again?

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Speaker 2: Look, I think it's the start of solving a problem.

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Speaker 2: The biggest issue we have problem an organization is that

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Speaker 2: we've only got three players in the market, and only

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Speaker 2: one of them is truly independent. So I'm quite fearful

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Speaker 2: that we're naturally going to create a unintentional monopoly in

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Speaker 2: the true course when this happens.

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Speaker 1: If you were going to do that, and we saw

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Speaker 1: us doing that, why wouldn't somebody into the market or

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Speaker 1: offer an alternative if it's there to be had another

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Speaker 1: word to wander in the market work.

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Speaker 2: Yeah, the problem is we're not big enough for us

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Speaker 2: We've had insurance here before and they've left the country.

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Speaker 2: We're just not a big enough country to warrant. However,

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Speaker 2: we're currently talking to insurers as well and trying to

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Speaker 2: get some more here. We just need some more competition

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Speaker 2: around this space. And not everyone wants to become a

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Speaker 2: member of an organization. So if you look at a

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Speaker 2: smaller builder, he may not want to join an organization

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Speaker 2: just to offer a guarantee. So we need to be

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Speaker 2: able to offer them more choice than the one that's

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Speaker 2: currently available. That's independent.

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Speaker 1: How much of this is about cowboys in the marketplace

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Speaker 1: and solving that particular problem.

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Speaker 2: Look, as business owners, I think we've all had dore

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Speaker 2: I say, mongol clients. We've all had those, and a

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Speaker 2: product will certainly help that. And there are some cowboys

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Speaker 2: out there, but the majority of the industry are just

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Speaker 2: good operators and not much will change with that. But again,

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Speaker 2: we just need more choice in this market.

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Speaker 1: And for how does this stub tailing with the master

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Speaker 1: bill guarantee.

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Speaker 2: Well, there's only one product of threes, so again, like

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Speaker 2: I don't want to speak about anyone else's product, but

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Speaker 2: they all have their positive and negative I think most

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Speaker 2: of them have probably more their negatives at the moment,

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Speaker 2: from what I am left to believe in what I'm told.

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Speaker 1: Here's another good question from a listener is the new

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Speaker 1: building warranty, does the person who made the mistake fix

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Speaker 1: it or do you get to choose the person to

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Speaker 1: fix it for yourself?

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Speaker 2: Apparently at the moment, from my understanding, with the current

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Speaker 2: products in the market, you don't get the true to

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Speaker 2: pick your builder. Like any insurance policy, but that stuff

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Speaker 2: at all. There are a lot of unanswered questions around this,

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Speaker 2: which is why we're sort of starting to voice some

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Speaker 2: concern around it.

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Speaker 1: Okay, so give me your pricie. If your magic won

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Speaker 1: this one, where are you at with it? What do

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Speaker 1: you want done? And if you do all of that,

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Speaker 1: are we good to go.

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Speaker 2: Look, I think like any other insurance like car insurance,

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Speaker 2: house insurance, you need more players. You need at least

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Speaker 2: five or six choices. We don't have that at the moment. Again,

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Speaker 2: this doesn't come out until it doesn't come into Laura

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Speaker 2: until twenty seven. We've got time to get it here.

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Speaker 2: At the moment, there's just enough choice.

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Speaker 1: Good stuff. CUP appreciate the insight. Carle Taylor, who's the

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Speaker 1: CEO of the Combined Building Supplies co Op, so that

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Speaker 1: was worthwhile at lead.

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Speaker 2: For more from the Mic Asking Breakfast, listen live to

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