Flammable cladding-related insurance policy exclusions may force fire engineers and building surveyors out of business. Such exclusions are increasingly being inserted by insurers in the wake of recent fires at the Lacrosse and Neo 200 buildings. However, building regulators will not register surveyors and fire engineers if their professional liability insurance policies contain such exclusions. Policy premiums for fire engineers and building surveyors are also being increased, leading for calls for governments to step in and bridge the insurance gap. From The AFR:
As a wave of industry PI renewals becomes due over the second half of this year, the risks are clear for the construction industry in all states.
