I am delighted to have recently been appointed to the Board of Master Builders Insurance Brokers (MBIB). I look forward to working with the Board and the MBIB team to further develop and enhance the organisation’s value offering and services available to Master Builders Victoria (MBV) members.
I am sending this personal message to introduce you to MBIB in the hope that you might consider using their services in the future.
MBIB is a specialist construction insurance brokerage, owned by Australia’s Master Builders Associations, and provides access to unique construction insurance products with broader coverage than typically found elsewhere. MBIB provides best value for money services for clients ranging from sole-trader subcontractors through to volume residential builders and large-scale commercial builders.
MBIB widely supports our industry by acting as an insurance broker to many members across Australia, as well as to the broader building and construction sector. Each state and territory employs staff skilled in the critical areas of building and construction insurance, such as contract works, home warranty, surety bonds and more, which benefits builders in helping them understand how to maintain and increase their eligibility limits.
MBIB Services Available to MBV Members
The next time you renew your insurance, I encourage you to engage with MBIB and arrange a discussion with them on how they can be of benefit to your business, ensure your business is adequately protected, and you’re getting the best value for money solutions. There is no better time than the present.
Contact MBIB Southern Region Manager Joe Keiper on (03) 9411 4504, or [email protected]
As the first woman to join the MBIB Board, I look forward to helping to pave the way for other women and continuing to work towards increased diversity equity and inclusion throughout the building and construction industry.
The latest market update from MBIB
We are certain that MBV members are aware that construction and liability insurers are continuing to increase premiums as both claims frequency and claims costs significantly rise – with worker injuries and storm claims in 2022 already well above expectations.
With several insurers no longer offering construction insurance at all, there is less market capacity and competition. Those that continue to offer insurance for the building and construction industry have reacted to the rising claims by increasing premiums and excesses. Concerningly, several insurers have also reduced cover to further improve profitability. These coverage reductions can result in large losses being completely uninsured through one policy, yet fully covered through another.
Now there can be anywhere from 10 to 20 key coverage differences between one contract works & liability policy and the next. MBIB has access to specialist construction insurance products that offer broad coverage with competitive pricing.
If you want to know more about this latest market update, contact MBIB Southern Region Manager Joe Keiper on (03) 9411 4504, or [email protected]
As always, if you require general information and assistance, please contact MBV on (03) 9411 4555.