The Victorian Managed Insurance Authority (VMIA) is a Statutory Authority established by the Victorian Managed Insurance Authority Act 1996 and is a successor in law to the former State Insurance Office. In addition to advising and insuring more than approximately $201 billion in State assets, VMIA provides Domestic Building Insurance (DBI) to Victorian residential builders under the DBI providing mandatory insurance cover to Victorian residential builders for work valued over $16,000 and up to 3 stories.
Since 2011, the VMIA has been the main insurer offering DBI to registered builders in Victoria and has issued the majority of DBI certificates over that period. VMIA operates in an open market with competitors. The DBI policy is purchased on behalf of the homeowner by the builder and protects homeowners in the event that their builder dies, disappears, becomes insolvent or defaults on a court or tribunal order and their building project is incomplete or defective.
VMIA holds information relating to properties, the policies, claims both current and historical, and the builders to whom a policy is linked.
VMIA is planning to undertake a competitive process for understanding the supplier market and range of solutions for an appropriate scalable vehicle to improve transparency and increase consumer awareness in relation to property related DBI data and insurance coverage.
At this stage, it is anticipated that an Invitation for Expressions of Interest will be released on the Buying for Victoria Supplier Portal (formerly Tenders VIC) on or around 6 May 2022.
Organisations that return a signed Deed of Confidentiality will be contacted to register for an optional one on one briefing session. The signed Deed should be submitted to firstname.lastname@example.org
Requests to register for a market briefing can be emailed to email@example.com with subject line "VMIA-2022-P007: Registration for a Market Briefing session".
DEED POLL OF CONFIDENTIALITY - EOI Stage
- Version 1 (28 Apr 2022)
- Available by Download (302 KB)