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ABC 730 Report Building warranty Insurance

ABC TV 7.30 Account 21 May 2009 19:37 PM Compere: Kerry OBrien O'Brien comments by law it is compulsory in most states for new home owners and ...

Insurance: Compulsory building insurance under fire

The chart has been variously described by consumer and builders' groups as unprofitable, wrong and "debris insurance". During last year's senate query the Greens senator Christine Milne accused insurers of wildly under-assessing claims to goad consumers into captivating their cases through the courts, resulting in tedious delays in payouts of more than six years in some cases. The Nationals senator Barnaby Joyce suggested the compulsory conspire was "a dog".

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