High rise owners face bill for replacing dangerous cladding | Owners Corporation Network

High rise owners face bill for replacing dangerous cladding

Apartment owners in buildings taller than three storeys will have to pay to replace dangerous cladding themselves because of a legal loophole that means neither builders nor insurers are not liable. The loophole in a 2003 agreement between state governments and the industry could be used by developers and insurers to shift the potentially huge cost of replacing dangerous cladding on high-rise buildings onto owners or taxpayers.
Source: 
Australian Financial Review
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Source: 
Australian Financial Review