Learn about the recent changes to VMIA
We wish to advise that the Victorian Government today announced, it will legislate the integration of the Victorian Building Authority (VBA), Domestic Building Dispute Resolution Victoria (DBDRV) and VMIA’s Domestic Building Insurance (DBI) functions into a single entity called the Building & Plumbing Commission.
This will create a single integrated building sector regulator bringing together the functions of licensing, compliance and discipline, dispute resolution and insurance.
It is important to note that there will be no immediate changes to how HIAIS distribute Domestic Building Insurance (DBI) policies and all terms and conditions of existing DBI policies will not change.
HIAIS will work with VMIA and Building & Plumbing Commission throughout the coming months to ensure a seamless transition.
As the residential housing market and the insurance regulations continue to change, it can be challenging for builders to stay abreast of all the information to help run their business. Working with a broker like HIA Insurance Services can help you to understand what changes are coming, how they impact your business and provide you with risk mitigation strategies to support your business. Contact us today.
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