Al Locus and Emma Snowden with their children (from left) William, 7, Kenji, 4, and Nathaniel, 23 months, at their Kaleen home.

Insurance giant QBE has been blasted by senior officers of the ACT's Environment and Planning Department for failing to compensate victims of the $4.5 million Sublime Constructions and Development collapse.

QBE is refusing to pay out on home warranty insurance certificates issued to up to 13 Sublime clients who have been left about $1.1 million out of pocket after the builder went into administration and then liquidation earlier this year.

Department construction services director Craig Simmons likened QBE's behaviour to that of some insurance operators in the workers compensation sector, and said the apparent attempt to evade liability on a technicality was doomed to fail.

"We [the department] think this is pretty straightforward," he said. "It is a pretty simple policy."

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Aler Locus and his partner Emma Watson, whose extended family of six have been squeezed into a cramped Kaleen bungalow for more than a year as a result of the Sublime debacle, agree.

Mr Locus said QBE was trying to make his, and the other affected families, bear the cost of its failure to carry out proper due diligence when it issued the policies.

Home Warranty Insurance is a statutory obligation in all jurisdictions. In the ACT, builders cannot sign a valid contract until the client has been provided with a certificate showing the insurance is in place.

QBE, whose total exposure to the Sublime collapse is estimated to be $1.1 million with individual claims capped at $84,500, has told affected owners that because the certificates were made out in the name of Sublime Builders Pty Ltd, not Sublime Constructions and Development, they were not covered.

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QBE wrong to deny coverage to Sublime victims, ACT government says

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DEAR CAR TALK: I have a 2010 Smart car. The check engine light would not stay off.

I took it to the dealer before the warranty expired. They found nothing wrong and told me I probably had a bad tank of gas, and that I should wait for it to get used up and fill it with good gas next time. I did that, and sure enough, the light went off.

But a few weeks later, the light was back on. The same thing happened new tank of gas, light goes off, then comes back on. Finally the light stayed on permanently, but by then it was no longer under warranty.

So the dealer switched sensors to see what that would do. I didnt even make it home before the light was back on.

This time, they said they would come and get it (I live 45 minutes away) and bring me a loaner.

A day later, they told me I need a cylinder head because I have a leaking valve, and it will cost $3,400. The guy said that, since I have less than 10,000 miles on the car and Id brought the problem to their attention while it was still under warranty, hed agreed to cover all but $500, which I am to pay. In my opinion, they should cover all of it. Thanks. Mary

Dear Mary: I agree with you completely. This clearly was a manufacturing defect. The engine failed at less than 10,000 miles thats ridiculous. And you brought the defect to their attention while the car was still under warranty.

What possible justification do they have for charging you $500? The whole things on them. If they had figured it out the first time you took it to them, it would have been under warranty. So theyre billing you for their own ineptness in taking months to figure out what was wrong.

It was nice of them to come and pick up your car after the second time they failed to solve the problem. But in billing you for $500, they want to see if youll roll over and give them the money. Dont.

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Warranty repair should be covered

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2-10 Home Warranty Service Agreement.

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Happy Holidays from BPG Home Warranty!
Wishing you every happiness this holiday season and we look forward to working with you in the new year!

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A leading provider of title insurance, technology and transaction services to the real estate and mortgage industries, Fidelity National Financial, Inc. ( FNF ) inked a deal to acquire BPG Holdings, LLC. Notably, closure of the transaction is subject to regulatory approval, which includes the State of California Department of Insurance.

BPG Holdings is an acknowledged home warranty, home inspection services and commercial inspections leader, the merger of which with Fidelity National Home Warranty would result in the formation of California's largest home warranty company. Moreover, the takeover will increase Fidelity National Financial's Texas-based market shares while catering to other states, thereby expanding its portfolio.

This combination would also help Fidelity National Home Warranty to increase its presence globally, providing it with a platform for future growth.

Acquisitions and partnerships have been key growth catalysts for Fidelity National Financial, which have strengthened the company's existing lines of businesses for some time. Since 2010, it has acquired eight companies, including Lender Processing Services, Inc. ( LPS ), J. Alexander's Corporation and O'Charley's Inc. ( CHUX ), thereby significantly expanding Fidelity National Financial's product portfolio.

Notably, Fidelity National Financial's strong liquidity position cushions its inorganic growth.

With respect to earnings performance, the company delivered positive earnings surprises in three of the last four quarters with trailing four-quarter average surprise of 10.4%. The Zacks Consensus Estimate for 2014 and 2015 are currently pegged at $1.70 and $2.21, respectively. The long-term goal is 14.10%.

Zacks Rank

Fidelity National Financial holds Zacks Rank #3 (Hold). A better-ranked stock in the property and casualty insurance sector is AmTrust Financial Services, Inc. ( AFSI ), which sports a Zacks Rank #1 (Strong Buy).

AMTRUST FIN SVC (AFSI): Free Stock Analysis Report

FNF GROUP (FNF): Free Stock Analysis Report

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Fidelity National Financial (FNF) to Acquire BPG Holdings - Analyst Blog

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