Great news in the fight to eliminate dangerous cladding
CHU welcomes the news of an industry first insurance solution for building practitioners to be involved in the Victorian Government’s $600 million cladding rectification program.
Dangerous cladding in high-rise buildings, especially strata ones, is an ongoing major safety issue globally, following a number of high-profile fire disasters, including in Australia. Both the Victorian and NSW Governments are now actively combatting this issue.
One stumbling block has been cladding-specific exclusions in many building practitioners’ professional indemnity insurance policies, reducing the number who could carry out cladding rectification.
But now the Department of Environment, Land, Water and Planning (DELWP) and Cladding Safety Victoria (CSV) have partnered with brokerage firm Lockton to deliver a suite of policies that provide professional indemnity insurance coverage through Cladding Safety Victoria’s program.
This initiative will give the strata community comfort they have liability protection when the rectification work is being carried out.
For more information about Victoria’s landmark cladding rectification program click here.