The Victorian Managed Insurance Authority (VMIA) has just announced a major change to their Domestic Building Insurance (DBI) service model.
As part of this change, registered Victorian builders seeking to purchase insurance from this government backed insurer must select a licensed distributor to manage their DBI needs from 1 July 2017.
As part of this change, registered Victorian builders seeking to purchase insurance from this government backed insurer must select a licensed distributor to manage their DBI needs from 1 July 2017.
MBA Insurance Services (MBAIS) is owned by your Master Builders Associations and is one of only six brokers to have been granted a new license to act as a distributor of the VMIA.
What you need to do before 1 July?
If MBAIS is your DBI broker and you have a valid eligibility limit, you don’t need to do anything. Their dedicated specialist team will continue to proactively support your ongoing eligibility limit management and certificate issuing needs.
If you are using another broker, you may need to take action before 1 July 2017 either directly or via your broker. We would encourage you to support MBAIS as they are the only licensed DBI distributor delivering 100 per cent of profits directly back to the building and construction industry. As a general insurance brokerage wholly owned by Master Builders Association, they are the broker you own.
To check if your broker has a new license and for more information about the DBI changes visit: domesticbuildinginsurance.com.au
What you need to do before 1 July?
If MBAIS is your DBI broker and you have a valid eligibility limit, you don’t need to do anything. Their dedicated specialist team will continue to proactively support your ongoing eligibility limit management and certificate issuing needs.
If you are using another broker, you may need to take action before 1 July 2017 either directly or via your broker. We would encourage you to support MBAIS as they are the only licensed DBI distributor delivering 100 per cent of profits directly back to the building and construction industry. As a general insurance brokerage wholly owned by Master Builders Association, they are the broker you own.
To check if your broker has a new license and for more information about the DBI changes visit: domesticbuildinginsurance.com.au
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