Important information about upcoming Domestic Building Insurance changes

What do I need to know?

From 1 July 2026, Domestic Building Insurance (DBI) will be issued exclusively by the Building and Plumbing Commission (BPC), formally the Victorian Managed Insurance Authority (VMIA).

This means that private DBI insurers – including Assetinsure – will no longer be in the market after this date. Any builder currently relying on Assetinsure or another private DBI provider will need to review their arrangements and, in many cases, transition their eligibility to the BPC.

As your insurance partner, HIA Insurance Services can help you understand what this transition means for your business and assist you with moving your DBI eligibility to the BPC where required.

1. How do I know if I use Assetinsure for DBI?

If you are uncertain about your current DBI provider or eligibility status, you should:

• Contact your insurance broker or insurer immediately to:
  • Confirm who currently issues your DBI eligibility; and
  • Clarify whether there are any proposed changes to that eligibility.

This is particularly important if you have not reviewed your insurance arrangements recently or receive DBI through a facility arranged by a private DBI provider.

2. What happens if my DBI eligibility is with VMIA or BPC?

If your DBI provider is VMIA or BPC:

• No immediate action is required from you with respect to the 1 July 2026 change.
• Your DBI is already aligned with the entities that will remain in the market once the BPC becomes the exclusive DBI provider.
• You should continue to meet your usual reporting, underwriting, and renewal obligations.

3. What if my DBI eligibility is through HIA Insurance Services?

If your DBI eligibility is arranged through HIA Insurance Services:

• No further action is required at this stage to meet the transition away from private DBI providers.
• Your DBI eligibility will be issued by the BPC, and HIA Insurance Services will work with you and the BPC to help ensure your DBI arrangements continue with minimal disruption.

4. What if my provider is Assetinsure or another private provider?

If your provider is not VMIA or BPC and is instead Assetinsure or another private insurer, you will need to:

• Confirm the future status of your DBI eligibility with that provider; and
• Understand the timing of when your eligibility and policy access may cease.

HIA Insurance Services is aware that some home builders have already been informed by Assetinsure that:

• They will stop offering DBI policies after a short transition period; and
• They are required to cease offering DBI by 1 July 2026.

Assetinsure will conduct an orderly exit from the DBI market, which means:

• Builders will be exited in stages from October 2025; and
• The final group of builders is expected to be notified by April 2026.

If you are insured through Assetinsure (or suspect you might be), you should:

• Seek confirmation from your broker or directly from Assetinsure; and
• Start planning your transition to the BPC via an approved Distributor as early as possible.

Why working with HIA Insurance Services (as your distributor) is important

Guidance through the BPC transition

As an appointed Distributor of DBI for the BPC, HIA Insurance Services can support builders:

• Transitioning from Assetinsure or other private DBI providers; and
• Clarifying what the BPC changes mean for their existing projects and future work.

Support for existing and future DBI arrangements

HIA Insurance Services can:

• Help you confirm your current DBI provider and eligibility.
• Explain any communications you have received from Assetinsure or other providers.
• Assist you in planning your transition timeline so there are no gaps in DBI cover; and
• Guide you through the streamlined assessment process with the BPC.

If you currently have DBI eligibility through HIA Insurance Services, your eligibility will be issued by the BPC, and no additional steps are required from you at this time in relation to the DBI provider change.

If you are unsure about your DBI provider, eligibility status or the steps you may need to take before 1 July 2026, it is important to act early.

You can contact HIA Insurance Services for assistance:

We can help you:

• Confirm your current DBI provider and eligibility.
• Understand any notices received from Assetinsure; and
• Navigate the process of transitioning your DBI eligibility to the BPC.