A growing number of home builders going insolvent in Victoria and NSW has required insurers to pay out more than $300 million over the past decade for unfinished or substandard work. There is the same amount in outstanding claims yet to be settled.
Read more: http://www.smh.com.au/business/taxpayers-bear-brunt-of-costs-as-building-underwriters-withdraw-20140312-34mmd.html#ixzz2vtw6i86z