An intelligence-led proactive investigation by the VBA indicates there may be more than 200 building projects between 2018 and 2024 where Aycon is the builder of record, but where no valid Domestic Building Insurance (DBI) policy can be found.
Those affected have home builds in various stages of construction through to completion and occupancy.
Following inquiries by the VBA, the Victorian Managed Insurance Authority (VMIA) has confirmed Aycon has not obtained the required Domestic Building Insurance (DBI) for some of its building projects and some certificates of insurance with the VMIA logo are not genuine.
At this stage, the VBA has received only a relatively small number of complaints from Aycon customers about the compliance or quality of completed home builds.
The VBA believes this activity is isolated to Aycon, but investigations are continuing.
We recognise the distress this situation may cause Aycon customers, but as Victoria’s building and plumbing regulator, we take a zero-tolerance approach to activity that may harm consumers.
We are actively working with our government partners to support affected customers of Aycon.
By law, DBI must be taken out on any domestic building work over $16,000.
Without a DBI certificate showing the correct builder and address of works, a building permit cannot be issued and building work cannot start.
Consumers are reminded of the importance of DBI and not to pay a deposit until their builder has shown proof of a valid DBI policy and certificate of insurance that applies to your property.
If you have a VMIA certificate, you can verify it at: BuildVic.
If you believe you have insurance from another provider, check with them.
