Vol: 43 Issue: 3 | Oct 2020

Australia’s construction industry has been facing an insurance crisis following alarming revelations of shoddy building practices that have put residents’ lives at risk. 

Cracks appearing in residential high-rises, such as Sydney’s Opal Tower, and the flammable cladding wrapping thousands of apartment buildings across the country have contributed to soaring premiums and limited availability of professional indemnity (PI) insurance.

Can confidence in the construction industry be restored among insurers or will it prove too great a risk for PI cover?

Concerns about the construction industry have been mounting for several years. 

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