22/07/2024
It pays to pay attention
The NBS (or New Building Standard) is a rating system which compares the expected performance of an existing building in a major seismic event to that of a brand new build. The golden number here is considered to be 67% - anything below that, and you could see your insurance costs increased by your provider. Given that insurance is one of the commercial investors’ biggest operating expenses (alongside rates and statutory compliance costs) it pays to pay attention to your NBS rating.