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Stay up-to-date with the latest news, information and updates from BRIC, including innovation in the insurance space, business highlights and upcoming projects.

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Read BRIC's latest articles

Stay up-to-date with the latest news, information and updates from BRIC, including innovation in the insurance space, business highlights and upcoming projects.

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Understanding consumers risk and insurance in Australia’s home building market

09/22/2025

The collapse of Melbourne-based Porter Davis, a major player in Australia's domestic construction industry, was amongst a string of domestic builder insolvencies. The residential construction industry faced and continues to face a challenging environment of rising costs and fixed-price contracts, along with a lack of credit and working capital. The fastest increase in interest rates in decades has further compounded industry challenges.
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A short guide to understanding the different types of Domestic Building Insurance certificates in Victoria

09/22/2025

To successfully operate as a domestic builder undertaking residential construction in Victoria, you are required to have a sound knowledge of your domestic building insurance legal obligations. This includes the associated process to secure DBI eligibility and how to take out DBI certificates.
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Protecting your livelihood as a builder

09/22/2025

In the construction industry, safeguarding your livelihood requires careful planning and strategic decision-making. This article highlights some key considerations that may apply regarding the operations of your business, as well as the management of building contracts.
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Professional engineers registration scheme Victoria

09/22/2025

The Professional Engineers Registration Act 2019 (VIC) came into effect on 1 July 2021 and requires that engineers practising in Victoria be registered with the Business Licensing Authority (the BLA’). The new registration scheme requires engineers who work in specific areas of engineering to be registered and comply with various requirements relating to qualification, professional development, and adherence to a new Code of Conduct.
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Laws passed in Victoria to strengthen consumer protection for homeowners building or renovating

09/22/2025

The Victorian Parliament has passed new laws to prevent builders accepting deposits under a major domestic building contract before they have taken out domestic building insurance (DBI).
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Eligibility under scrutiny: the impact of accounting risks on domestic building insurance and eligibility Eligibility under scrutiny: the impact of accounting risks on domestic building insurance and eligibility

09/22/2025

Obtaining domestic building insurance (DBI) is a legal requirement for all building projects in Victoria over $16,000. As a builder, your ability to obtain and maintain domestic building insurance (DBI) eligibility relies on several financial, regulatory, and operational factors. A crucial element of this is managing accounting risks, which directly impact financial stability and compliance with insurer requirements.
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Domestic building insurance: The ramifications of deregistering your building business

09/22/2025

Builders play a critical role in maintaining the quality and safety standards of residential construction projects. By Law, builders in Victoria are required to take out domestic building insurance (DBI), also known as builder’s warranty insurance, for work valued at $16,000 or more.
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Domestic building insurance, a vital shield

09/22/2025

This article explains the historical context that shaped DBI and dispels some misconceptions. DBI is mandatory in most states and territories, although the specifics vary in each region (while Tasmania has passed a bill to make DBI mandatory, it is not yet live in the market). This article focuses on DBI in Victoria.
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Commercial structural defects liability insurance

09/22/2025

A commercial structural defects policy can add tremendous value to a small to medium commercial builders’ insurance program and potentially protect them from severe financial stress. There are a range of issues that can force a builder into bankruptcy.
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Building Stability: the critical link between dbi eligibility and financial management

09/22/2025

As a builder, your ability to obtain and maintain domestic building insurance (DBI) eligibility relies on several financial, regulatory, and operational factors.
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Building reforms to protect Victorians

09/22/2025

The Victorian Government has announced reforms to address the economic challenges builders face, including rising supply chain costs and lower consumer confidence in the wake of the Porter Davis insolvency. The reforms aim to strengthen the building system and provide better protection for homeowners while offering clarity to the building industry. This article outlines the key reforms.
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Becoming a registered building practitioner: the insurance eligibility process explained

09/22/2025

Embarking on a career as a builder is an aspiration for many, driven by the desire to contribute to the creation of dream homes, renovation projects, or extensions that enhance the lives of clients. However, the journey to becoming a builder entails more than craftsmanship.

Build your future.

Start the journey with BRIC today.

Get started now

Bovill Risk & Insurance Consultants Pty. Ltd. (BRIC); ABN 78 072 412 474 is a Corporate Authorised Representative of Honan Insurance Group Pty Ltd (AR 1308194), a part of the Marsh Group of companies.

This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire the product, refer to the specific policy wordings, product disclosure statements and/or target market determination (TMD) available from BRIC on request.

LCPA 25/939