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WA Home Warranty

Builders Indemnity Insurance Update - 1/07/2010

We wish to advise that all eligible builders dealing through MBAIS that have a facility with Vero have now been transferred to QBE Insurance.

MBAIS are currently in the process of writing to all clients with details of their new Letter of Eligibility from QBE. Builders should receive this correspondence shortly.

Update on WA Home Warranty Insurance - 9/06/2010

Following the withdrawal of several Insurers including Vero from the Builders Indemnity market from 30 June 2010, the Western Australian Government is finalising arrangements with those remaining Insurers who will continue to underwrite Builders Indemnity insurance from 1 July onwards. QBE has committed to remaining one of those Insurers.

MBAIS are therefore undertaking a transfer of all existing clients who were insured with Vero, across to QBE, before 30 June. Fortunately, if you are currently eligible with Vero and your Broker is MBAIS you will automatically be eligible for cover with QBE from 1 July 2010 on comparable underwriting terms and conditions. You therefore don’t need to do anything for the time being. For these customers who are being transferred to QBE, your underwriting terms and conditions will be reviewed some time throughout the next twelve months, however premiums and conditions are not expected to alter significantly for the greater majority of builders. You will be notified of your new Builders Indemnity facility shortly.

If you currently have eligibility with QBE, your terms and conditions will remain the same as they currently are. Again, you don’t need to do anything.

Members who are not insured through MBAIS are encouraged to contact us about arranging cover for you. MBAIS are experienced in all facets of construction and building insurance, and you can rely on us to provide the best assistance possible throughout this transaction phase and beyond

If you are unsure of your current situation in relation to Builders Indemnity Insurance please do not hesitate to contact MBAIS.