The majour insurers Lumley and CGU have withdrawn from providing Home Warranty Insurance (HWI) in Australia.

They claim the reduction in building activity over the past 12 months has resulted in an unsustainable reduction in

premiums.

The NSW government has stepped in and will be underwriting the HWI in NSW. With out HWI the building industry

would collapse.

This action is similar to the events that followed the collapse of HIH all those years ago. 

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