Vero quits home warranty

Vero is the latest in a long line of providers to pull out of builders’ warranty insurance. Vero will stop writing cover from June 30, 2010.

The insurer covers at least 40 percent of each of its markets across the country, and its exit leaves QBE and Calliden as the only private providers after June.

Vero says that all current home warranty insurance policies will remain valid for the duration of existing terms and that its claims team will continue to process any valid claims received on all certificates issued up to and including 30 June 2010.

Vero says that after discussions with various State Governments, it came to the conclusion that there was no choice but to withdraw from the national home warranty market.

However, the company has expressed an interest to the NSW government in being a participant in the NSW Scheme as an administrator/claims manager.

For further information click here or call Sue Repanellis on 0407 210 710.