Effective 2 November 2020, QBE will be implementing premium increases to Building Indemnity Insurance (BII) also known as Builders Warranty, in South Australia.
- Increase to builder premiums by 10%
- Increase to the multi-unit loading by 5%. The multi-unit loading will now be 90%
- Increase to builders on flat-rate premiums. All affected builders will be notified via their intermediaries.
QBE who have managed BII on behalf of the South Australian Government via the South Australian Finance Authority (SAFA) since 2013, will be increasing premiums due to increased claims costs continuing.
