The Building Practitioners Board have noted the recent VMIA statement that VMIA will provide insurance on comparable terms and conditions to their previous cover for a period of at least twelve months or until the builder can be commercially assessed, provided that the applicant builder has held eligibility with an authorised insurer at any time since January 2009. The Board wishes to assist a smooth transition to the revised insurance arrangements announced by the Victorian Government.
The Board have informed VMIA that for registration purposes it will regard any practitioner for whom it holds a record of insurance eligibility with an authorised insurer from a date after 1 January 2009 as meeting the requirement for eligibility for insurance underwritten by VMIA. The Board will automatically renew a practitioner’s registration, on payment of the annual fee, on that basis unless notified by VMIA that a practitioner has been refused cover following an insurance assessment. In those circumstances, registration will be suspended pending resolution of the practitioner’s insurance status and written notification of that resolution by VMIA to the Registrar of the Board.
This arrangement will continue until further notice is given by the Board to VMIA. Insurance held by registered practitioners with other authorised insurers will not be affected by the arrangement, and the Board will continue to consider letters of eligibility issued by any authorised insurer.
Should you have any additional queries, please contact your account manager who will assist you.