Apartment defects turns insurance crisis

Via The Australian:

Construction projects worth billions of dollars could grind to a halt as hikes to professional indemnity insurance premiums begin to force building certifiers out of business in what the industry warns is a “national crisis”.

One of Queensland’s biggest certifiers, GMA Certification Group, declared on Thursday it was “dead in the water” following a rise of 200-300 per cent in professional indemnity premiums.

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