VMIA is a statutory authority established by the Victorian Managed Insurance Authority Act 1996.
Our operations are governed by this act of legislation, which outlines our functions.
We report to the Victorian Government’s State Minister for Finance.
Extract from Victorian Managed Insurance Authority Act 1996
The functions of the Authority are —
(a) to assist departments and participating bodies to establish programs for the identification, quantification and management of risks;
(b) to monitor risk management by departments and participating bodies;
(c) to act as an insurer for, or provide insurance services to, departments and participating bodies;
(d) to provide indemnities to officers as referred to in Part 3;
(da) to provide insurance or indemnities to persons or bodies in accordance with section 25A;
(e) to provide risk management advice to the State and to provide risk management advice and training to departments and participating bodies;
(ea) to carry out any functions conferred on it by the House Contracts Guarantee Act 1987;
(f) to carry out such other functions as are conferred on it by this or any other Act.