137Offence to claim to be insured when uninsured

137 Offence to claim to be insured when uninsured A building practitioner or engineer engaged in the building industry, who is not covered by the required insurance, must not hold himself or herself out as being covered by that insurance. S. 137AA inserted by No. 102/2003 s. 42. 137AA Insurance for domestic building work to be provided by designated insurers S. 137AA(1) amended by No. 4/2024 s. 8. (1) If an order under section 135 requires a builder to be covered by insurance relating to the carrying out of domestic building work, the insurance required by the order must be provided by a designated insurer. (2) For the purposes of subsection (1) a designated insurer is— (a) a general insurer within the meaning of the Insurance Act 1973 of the Commonwealth; or (b) a Lloyd's underwriter within the meaning of the Insurance Act 1973 of the Commonwealth authorised under that Act to carry on insurance business in Australia; or S. 137AA (2)(ba) inserted by No. 33/2010 s. 29, amended by Nos 21/2017 s. 79, 17/2025 s. 5. (ba) the Authority; or (c) an insurer specified by the Minister by notice under this section. (3) The Minister may by notice published in the Government Gazette specify an insurer for the purposes of this section. (4) The Minister must not specify an insurer under subsection (3) unless the Minister is satisfied that the insurer has an acceptable international credit rating and that the insurer does not carry on insurance business in Australia. (5) For the purposes of this section an acceptable international credit rating is a rating that— (a) is provided by a credit rating agency specified under subsection (6); and (b) is equal to or exceeds the rating specified in relation to that agency under subsection (6). (6) The Minister may by notice published in the Government Gazette— (a) specify a credit rating agency for the purposes of this section; and (b) specify a rating in relation to that agency. (7) The Minister may by notice published in the Government Gazette amend or revoke any notice published under this section. (8) The Minister must consult with the Minister for the time being administering the **Victorian Managed Insurance Authority Act 1996** before publishing any notice under this section. (9) In this section ***insurance*** has the same meaning as it has in section 135. (10) This section applies only to insurance taken out on or after the commencement of section 42 of the **Wrongs and Other Acts (Law of Negligence) Act 2003**. S. 137A inserted by No. 91/1995 s. 142, amended by No. 4/2024 s. 9(1).