A development located in Caulfield South, Victoria, constructed by Shangri-La Constructions and completed in 2015, has attracted significant media attention recently. It has shed light on potential deficiencies in the regulatory oversight of apartment buildings in Victoria, with the primary concern being the defects within the development, which has resulted in tragic outcomes.
Archives: Case Studies
When LDI works – an international example
The Charles de Gaulle Airport in Paris suffered a catastrophic collapse in 2004. The incident occurred when a section of steel roofing at Terminal 2E crashed down causing 4 people dead and injuries to several passengers. Investigation revealed that the reasons for the collapse were a combination of faulty design and workmanship. After four years of reconstruction, Terminal 2E reopened in March 2008, costing EUR 150 million (AUD 250 million) covered by insurers and reinsurers.
When a government needs to step in to protect consumers from poor past building delivery
With growing dismay in the quality of delivery of medium and high-density apartment construction market, the NSW Government has again led the nation in development of a program to action remediation of past developments and avoid the excessive legal and expert costs all parties are expending trying to find resolution to building defects, introducing, Project Intervene.
LDI internationally offered for decades, now available in Australia
For decades, Latent Defects Insurance has been offered to Building Industry stakeholders and protecting consumers. It has not been readily available in Australia. Now, with Resilience Insurance, this has changed.
