Important Announcement – SA Builder’s Indemnity Insurance

Residential Builders Underwriting Agency Pty Ltd (RBUA) wishes to advise that as at 30 June 2017 it will cease to distribute Building Indemnity Insurance (BII) in South Australia. The existing arrangement where RBUA acted as agent of Great Lakes Insurance SE t/as Great Lakes Australia (GLA), who in turn had a reinsurance agreement with South Australian Financing Authority (SAFA) is to expire on 30 June 2017.  GLA have advised SAFA that they do not wish to renew or extend the current reinsurance agreement post expiry.

Effectively this means that QBE Insurance will be the only provider of BII in South Australia from 1 July 2017 onwards.