The Victorian Managed Insurance Authority (VMIA) is a Public Financial Corporation established on 1 October 1996 as the ‘captive insurer’ for the State of Victoria. A statutory body, whose operations are governed by the Victorian Managed Insurance Authority Act 1996, the VMIA reports to The Hon Robert Clark, Minister for Finance.
The VMIA offers support and advice in strategic and operational risk management and insurance products, tailored to meet the specific needs of individual clients.
The VMIA also provides Domestic Building Insurance (DBI) for the State’s building industry and for the broader Victorian community.
Our clients sit primarily within the general government and public healthcare sectors and include departments, statutory authorities, agencies, infrastructure, rail operations, hospitals, health centres, community service organisations, medical research bodies, tertiary institutions, cemetery trusts, national parks, galleries, museums and event bodies.
Our portfolio represents approximately $120 billion in State-insured assets, with annual net premium revenue of $181 million and $1.8 billion in investments and other assets.