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Overview of VMIA IHEA Forum. Monia Choudhary Mark Cleeve August 2013. Core business is as a captive insurer providing risk management and insurance solutions. Important contributor to mitigation of State’s risks. VMIA established 1996

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overview of vmia ihea forum

Overview of VMIA IHEA Forum

Monia Choudhary

Mark Cleeve August 2013


Core business is as a captive insurer providing risk management and insurance solutions

  • Important contributor to mitigation of State’s risks
  • VMIA established 1996
  • More than 4,000 insured entities
  • $5 million in risk management funding
  • $144 billion of assets insured


our services include
Our Services Include:


property industrial special risks isr insurance
Property (Industrial Special Risks- ISR) Insurance
  • Broad terms of coverage
  • What is Covered:
      • Buildings;
      • Plant, furniture, equipment & all other contents;
      • Loss of Revenue and/or Additional Costs of Working post property damage
  • Covers all perils (fire, flood, earthquake etc.) except as specifically excluded
  • What is Not Covered:
      • Wear & Tear, Gradual Deterioration, War, Nuclear
  • Deductible/ Excess under the policy applicable to all claims:
      • Varies according to asset value - $500 to $2,500


public products liability ppl insurance
Public & Products Liability (PPL) Insurance
  • Coverage for legal liability arising out of an occurrence in connection with the business of the Insured
  • Covers claims for compensation by third parties for personal injury or property damage
  • Excludes claims for pure economic loss (Professional Indemnity), Injury to Employees (WorkCover) and Transport Accidents (TAC)
  • Examples of Claims
    • Trips & Falls
    • Tree falling on vehicle
    • Collapse of infrastructure – walkway, balcony
    • Fire causes injury & third party property damage


site risk surveys srs
Site Risk Surveys (SRS)
  • Risk Assessments of hospital sites by VMIA Risk Engineers
  • Identify potential risk exposures and recommend treatment options
  • Provides an objective view of property, public liability & business interruption risks
  • Assists with development of aggregate view of risks across the VPS
  • Mitigates risks which positively impacts future premiums
  • Provides estimates of Maximum Possible Loss
  • Assists in the economic purchase of catastrophic reinsurance protection


site risk survey process
Site Risk Survey Process
  • VMIA takes a Risk-based approach to Site Selection
      • Annual visits to all sites where asset values >$500m
      • Triennial review of all sites where asset values >$50m
      • Other sites according to risk criteria, claims experience
  • Procedure:
      • Contact with Facilities Management to confirm suitable time
      • Site Visit by VMIA Risk Engineer
      • Draft Report issued to Health Service for concurrence
      • Identified Risk Treatment Options (RTOs) pursued according to priority rating
          • Extreme Rating RTOs require immediate actioning
          • High Rating RTOs followed up by VMIA until completion
          • Medium & Low RTOs require attention at health service’s earliest convenience


site risk survey methodology
Site Risk Survey Methodology

Survey that analyses the following six elements of the site specific risk profile, and evaluates the treatment, control systems and activities that serve to manage those risks

      • Hazards (natural, technological, human and operational in origin);
      • Construction;
      • Essential Services;
      • Risk Management Systems;
      • Building Services and Equipment; and
      • Public Safety
  • Identification of issues of importance which are assessed using probability and consequence risk matrices


sector results
Sector Results

Health Agencies

All Sectors

Adequate Good Very Good


other risk management services
Other Risk Management Services:
  • Available on VMIA website – www.vmia.vic.gov.au
  • Guides & Publications
  • Tools & Templates

Risk Register Software-


      • VMIA offers a free, easy to use, secure software solution for risk managers to record and report on key risks.
      • Risk Register Software can help you:
        • reduce time in risk management recording
        • improve the quality of reports.


next steps
Next Steps
  • Working closely with Department of Health with respect to Risk Management
  • Feedback from hospitals about SRS
  • Ongoing development of tools and templates


health team your relationship managers at the vmia
Health team - Your Relationship Managers at the VMIA

Liz Cox, Principal

Relationship Manager

T: (03) 9270 6996

M: 0408054845

E: [email protected]

Kirsty Ellis, Senior Relationship Manager

T: (03) 9270 6917

M: 0417134752

E: [email protected]

Monia Choudhary, Senior

Relationship Manager

T: (03) 9270 6876

M: 0421412041

E: [email protected]