qbe pullout tipped to spark building crisis

http://m.theaustralian.com.au/business/property/qbe-pullout-tipped-to-spark-building-crisis/story-fn9656lz-1226597657328

Due to a surge in the number of builders going broke, QBE has been forced to withdraw builders indemnity insurance from July.

In states like south Australia that require builders to have insurance, it means down tools in July.

Master builders Australia describe it as the worst crisis since the colaspse of HIH.

It is unlikely any other insurer will touch the market.