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NEWS:


The Victorian Government announces changes to Domestic Building Insurance

The Victorian Managed Insurance Authority (VMIA), risk and insurance services provider for the Victorian Government, has appointed HIA Insurance Services (HIAIS) as a distributor of Domestic Building Insurance (DBI).

The appointment came after the VMIA announced it is making changes to how DBI is being purchased and managed in Victoria. These changes include the appointment of a panel of six distributors who will give builders access to the online portal BuildVic and act as a point of contact for DBI-related matters.

The VMIA have recently performed an in-depth tender process where only a few organisations were chosen to distribute DBI, including HIAIS, once the changes come into effect from 1 July 2017.

IMPORTANT: In the coming weeks, you will need to choose a DBI distributor if you are intending to purchase DBI from the VMIA. Please contact HIA Insurance Services on 1800 762 852, as soon as possible to see how we can assist you with your DBI requirements.

What changes are occurring?

  • The DBI product is remaining the same, however the DBI service model and purchasing portal will change as well as how DBI is currently administered. The VMIA have appointed a panel of distributors who will use a new online portal called BuildVic to process and manage DBI as of 1 July.
  • HIAIS will be able to process and administer DBI certificates on your behalf or we can support you in using the BuildVic online portal.
  • Currently brokers issue VMIA DBI certificates via QBE. As of 1 July 2017, QBE will cease the issuing of certificates and DBI distributors, such as HIAIS, will deliver certificates directly via the VMIA BuildVic online portal. 

 Why are changes occurring?

  • The VMIA have indicated that the new online portal is intended to streamline the DBI process of purchasing insurance and will allow builders to obtain DBI quickly and easily, reducing red tape and enabling improved access to information. The online portal is device friendly and can be easily accessed via computer, tablet or mobile.
 

How does this affect your business?

Clients of appointed distributors

HIA Insurance Services (HIAIS) has achieved appointment as a distributor of Domestic Building Insurance (DBI). For clients of HIAIS there is nothing further for you to do, we will manage the transition on your behalf and will keep you updated.

If your current broker has been appointed as a DBI distributor, the VMIA will automatically assign your business to your appointed DBI distributor on your behalf and you will not be able to transfer to an alternative DBI distributor for a period of 3 months, this freeze will cease approximately on 6 September 2017.


Clients of non-appointed distributors

If your current broker is not a DBI distributor, you will need to appoint a DBI distributor in the coming weeks. You have the option to work with a DBI distributor directly or you can continue to use your insurance broker to work with an approved DBI distributor on your behalf.

If you choose to work directly with an approved VMIA Distributor, there will be no additional fees attached to the VMIA DBI service.

How to appoint a DBI distributor?

If your current broker is not a DBI distributor, you will be required to appoint a DBI distributor by completing the DBI distributor nomination form. If you elect HIAIS as your distributor, you can either post or email the form to HIAIS. Click here to download the form.

Where to send this form:

EMAIL:
au.hiais@aon.com

POST:
HIA Insurance Services
Re: DBI Distributor appointment
GPO Box 4897
Melbourne, VIC 3001

If you would like to learn more about the DBI changes please contact HIAIS on 1800 762 852 during our extended contact hours from 8.30am - 8pm.
 

Frequently Asked Questions

 

Why you should choose HIA Insurance Services as your DBI Distributor?

HIA Insurance Services specialises in delivering high quality Domestic Building Insurance (DBI) services.

For 32 years HIA Insurance Services (HIAIS) has facilitated the issuing of over one million warranty certificates and conducted in excess of 40,000 builder reviews nationally. HIAIS has one of the largest teams who are specialists in Domestic Building Insurance, due to size and experience HIAIS has the ability to offer clients streamlined processes and efficiencies.

HIA Insurance Services have the DBI experience that delivers:

  • Expertise –we have a deep understanding of the underwriter’s requirements and we can support your business to efficiently address underwriting requests, so you can focus on generating income and profit for your business.
  • We deliver certificates within 24 – 48 hours^ and we can support you with using the self-service builder portal.
  • Achieving business growth –our strength is advising you on the right steps to take to plan for business growth and we will help your business frame the best business case to achieve your desired turnover limit.
  • Specialist advice –with over 32 years’ experience our team are experts in advising you on all aspects of DBI.

^Provided you have an approved profile with the insurer, and subject to peak periods.

About Us

HIA Insurance Services (HIAIS) is a joint venture between the Housing Industry Association (HIA), the largest national industry association representing the residential construction industry in Australia and Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions. This joint venture provides HIAIS with the unique opportunity to leverage the buying power, insurance, governance and risk capability of Aon as well as accessing the HIA and utilising their deep knowledge of the housing industry. The surpluses that HIA receive for the joint venture are invested in representing the building industry’s best interests with Government and other key stakeholders.

How do I find out who my current broker is?

You can locate your broker on your most recent letter of eligibility or certificate of insurance, your broker will be listed at the top of the certificate.

Why hasn’t my current broker been selected as a distributor?

The new arrangements are intended to streamline the DBI process of purchasing insurance and will allow builders to obtain DBI quickly and easily while reducing red tape.

Can a builder stay with their current (non VMIA approved Distributor) broker?

The new model post 1 July 2017 requires builders to select a VMIA DBI Distributor to manage their DBI requirements.

It does not prohibit a builder from continuing to utilise the services of a broker who has not been appointed, however the broker must engage with the builders appointed VMIA distributor.

If you choose to work with a DBI distributor directly there will be no additional fees as certificate pricing is standardised between DBI distributors.

Will the changes affect current DBI certificates?

Current DBI certificates will remain valid for the period stated when issued.

On current projects, do I need to reapply for DBI certificates?

For certificates that have been issued prior to 1July 2017, these will remain valid for the period stated when issued.

If you would like to learn more about the DBI changes please contact HIAIS on 1800 762 852 during our extended contact hours from 8.30am - 8pm.

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