QBE ready for claims after builder collapses
QBE has started receiving insurance enquiries from residential property owners hit by the collapse of Senator Bob Day’s building company Home Australia.
The Family First senator said last week that he will resign from Parliament after his company went into liquidation, halting construction on more than 200 homes across the country.
Property owners left with incomplete work can pursue claims under state-run builders’ warranty insurance programs, which operate under various names and rules.
QBE, which manages claims for the NSW, SA and WA governments, has set up a special team to help with the process.
“Home owners in these states who have a contract with the Home Australia group of companies and have a certificate of insurance for residential building works should contact QBE to make a claim under the relevant policy,” a QBE spokesman told insuranceNEWS.com.au.
“We appreciate this is a difficult time for those affected and are doing what we can to make the claims process as smooth as possible.”
In Victoria QBE underwrites on behalf of the Victorian Managed Insurance Authority, which manages claims, while the Queensland Building and Construction Commission handles cover in that state.
Liquidator McGrathNicol says Home Australia operated under different brands in five states. In SA Homestead Homes has 48 properties under construction. Collier Homes in WA has 29, Newstart Homes in Queensland 17, Ashford Homes in Victoria 57 and Huxley Homes in NSW 56.
“The liquidators’ immediate objective is to work constructively with relevant insurers and customers to facilitate the orderly recommencement of construction of uncompleted homes by alternative builders,” it says.
SA Treasurer Tom Koutsantonis says his government underwrites building indemnity insurance to provide protection in such circumstances. He urges people to initiate the claims process.
“This is devastating news for families who in many cases have put everything on the line to build their dream home,” he said.