When insurers aren’t willing to do business with you, you know something is wrong. Their current unwillingness to offer policies to certain professions is a canary-in-the-coal-mine moment, pointing to troubling times ahead for the whole construction industry, as well as existing and future apartment owners.
Federal and state governments must urgently address problems that have festered for decades if we are to restore confidence in an industry critical to the Australian economy.
Electrical defects are one of the most prevalent causes of residential fires in Australia. Between 2010 and 2013, thousands of kilometres of dodgy Infinity cabling were installed across Australia. While a recall was ordered, hundreds of kilometres of this faulty wiring remain in place.
Non-conforming products such as Infinity are the cancer of the construction industry, a disease that threatens every consumer and that has been allowed to fester by successive state and national governments. If a systematic approach is not implemented, it will continue to eat away at Australia’s buildings – and apartment owners’ bank accounts.
Is this sensationalism? Certainly not to the owners.