Ministerial Standing Direction 3.7.1 requires that relevant public sector agencies comply with the mandatory requirements set out in the Victorian Government Risk Management Framework.

Mandatory insurance requirements

The Responsible Body of an agency required to insure with VMIA (as defined by the VMIA Act) must:

  • arrange all its insurance with VMIA unless exempted by the responsible Minister or where VMIA cannot offer insurance for a specific risk;
  • as part of its annual insurance renewal process:
  • determine the appropriate level of insurance in consultation with VMIA;
  • maintain a register of all insurance and indemnities and make this available to VMIA on request; and
  • provide information on claims management capability, resources, structures and processes for any self-insured retailed losses to VMIA, including the basis for valuation of self-insured retained losses.
  • in relation to managing below deductible claims:
    • maintain adequate claims management capability and processes where the agency has opted to manage below deductible claims; and
    • provide required below deductible claims data for self-managed claims to VMIA.

Attestation support

VMIA can assist your agency to prepare for an insurance attestation by using the following structured approach, which supports all attestation requirements:

  • Consult with VMIA — determine the appropriate level of insurance for your agency
  • Insurance and indemnities — maintain an insurance and indemnities register
  • Self-insured losses — record the valuation and basis of valuation of self-insured losses
  • Claims capability — provide information on claims management capability, resources, systems and processes for self-insured retained losses
  • Attest— statements for the accountable officer to attest compliance with the Direction. 

More information

Insurance attestation resources
Frequently asked questions

If you require additional assistance please email or phone (03) 9270 6900.