New building code in effect since Feb 1

At the end of last month, the federal government revealed a new national building code, which took effect on February 1.

Minister for employment and workplace relations Bill Shorten announced the Building Code 2013 on January 30, saying it would make it easier for building contractors and industry participants to demonstrate compliance with a range of requirements.

"The building and construction industry is a key factor in the success of the Australian economy and the government is committed to strengthening the sector to help support jobs, growth and productivity," said Mr Shorten in a statement.

Master Builders Australia put out a statement the same day, noting with concern the lack of time for consultation before the code became effective.

Acting chief executive Richard Calver said that while Master Builders had long been an advocate for a strong and effective national building code, being given just 24 hours to examine it was not enough to develop the knowledge needed to advise the industry on how to comply.

"It is simply too early to tell if there will be any unintended consequences as a result of its implementation," said Mr Calver.

However, he said that the intention to reduce the bureaucratic obstacles involved in proving compliance was much appreciated.

"We also welcome provisions preventing industry participants, including trade unions, from applying undue pressure and coercion," said Mr Calver.

Whether new building requirements are implemented rapidly or after a long period of consultation, they can have important consequences for business and farm insurance.

Elders Insurance agent Grant Dohnt notes that when building codes change, this often affects the cost of replacing a structure.

Mr Dohnt, an experienced Elders Insurance agent based in Launceston, says this is why it is important to review property sums insured in the wake of any new building regulations or codes.