Victoria has named six distributors for the state’s builders’ warranty insurance in an overhaul of the system that will change the way insurance brokers obtain cover.

The previous system, under which QBE acted as an agent for the Victorian Managed Insurance Authority (VMIA), has been replaced from July 1 with one where six brokerages will act as the interface with builders’ brokers.

The new panel of distributors comprises Arthur J Gallagher, Bovill Risk & Insurance Consultants, CCM Insurance Group, HIA Insurance Services, Insurance House and MBA Insurance Services.

“We are not making wholesale product changes, but rather introducing a new process and system for managing DBI,” VMIA says in its latest announcement.

An online portal called BuildVic will streamline purchasing and managing domestic building insurance, giving builders access via multiple devices and providing faster and easier access to certificates and documentation.

The panel of distributors will give builders access to the BuildVic portal and act as a point of contact for building insurance-related matters.

Brokers that are not a domestic building insurance distributor will still be able to manage the insurance of behalf of their clients, but the process will change.

“Brokers can work with their client to support them in choosing a DBI distributor, as well as gaining consent from them on purchasing and managing their domestic building insurance in future,” VMIA says.

More details in our regular bulletin on Tuesday.