The pre-nationalistion LMI sector has taken its first step towards public ownership, Via Banking Day:
QBE has begun notifying home lenders that it has suspended mortgage insurance coverage for new loans taken out by home buyers employed in industries hard hit by the COVID-19 crisis.
While the move reflects prudent risk management by the insurer amid rapidly deteriorating business conditions, it could rankle political leaders who last week called on the insurance industry to continue underwriting risks in the Australian economy.