The Victorian Government has announced that QBE Insurance (Australia) Limited (QBE) has entered into an agreement with the Victorian Managed Insurance Authority (VMIA) to assist it in managing the transition to the new government underwritten scheme announced by the Victorian Minister for Finance on 29 March 2010.
The arrangement will transition underwriting of domestic building insurance to VMIA with cover issued by QBE from 31 May 2010, while continuing to be transacted via insurance brokers including Adroit Insurance Group and authorized representatives. Consistent with the Government’s decision, the VMIA will manage any claims arising from these policies.
Builders who have held domestic building insurance eligibility with an authorised insurer at any time since 1st January 2009 will automatically be eligible for cover from the VMIA on comparable terms and conditions for a period of at least 12 months, or until they are assessed.
Please be assured that if you have this cover in place with us, you do not need to take any action and we will continue to offer this product for existing and new clients of Adroit Insurance Group.
If you wish to discuss further please do not hesitate to contact either your Account manager or myself.
Andrew Locke
Managing Director