The number of insurers providing home-builder warranty insurance has fallen from five to three in the last two weeks.
Registered home builders must have commercially provided insurance by law in all states except Tasmania and Queensland.
The NSW minister for fair trading, Linda Burney, held an emergency meeting with the three remaining insurers, Vero, QBE and Calliden yesterday as the master builders association said the insurers have 'milked' the building industry in good times and are now walking away during a downturn.
Burney said she received encouraging messages from the insurers about strategies they had in mind to ensure home builders get the coverage they need to complete projects.
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