Investigations by the VBA revealed that Aycon Constructions had backed over 150 building permit applications with counterfeit domestic building insurance (DBI) records, performing building work without securing legitimate insurance policies. Builders in Victoria are legally obligated to obtain DBI for projects exceeding $16,000 to safeguard consumers and contractors alike.
The authority suspended Aycon’s operations in April after executing search warrants on multiple Melbourne sites, uncovering that the firm had been functioning without the essential DBI policies. The Victorian Managed Insurance Authority (VMIA) substantiated these findings, indicating that Aycon had not only bypassed obtaining insurance for several projects but had also replicated VMIA’s logo for these false certificates.
In response to these egregious violations, Mr. Ayranci’s registration as a builder has been revoked, and he has been disqualified from the industry for three years — the maximum duration allowed under current legislation. The VBA classified Ayranci as “unfit and improper,” also stating that his actions epitomize unprofessional conduct.
Anna Cronin, Commissioner and CEO of the VBA, emphasized the regulator's unwavering stance against disreputable builders. "This unprecedented penalty exemplifies our commitment to using every tool in our regulatory arsenal to protect consumers from unethical practices and ensure compliance in the building industry," remarked Ms. Cronin. "We urge consumers always to verify their builder’s registration and confirm the presence of a valid DBI policy, which is a legal necessity."
The VBA continues to engage with affected clients of Aycon, having noted a "relatively small" yet concerning number of complaints filed in May. The agency seeks to support these customers as they navigate the repercussions of Aycon’s malpractice.
Published:Saturday, 20th Jul 2024
Source: Paige Estritori
| CHU's 2025 Report Shows Stability in Strata Insurance Premiums Amid Climate and Regulatory Shifts 22 Jan 2026: Paige Estritori CHU, Australia's leading strata insurance underwriting agency, has released its 2025 State of the Strata Market report, providing a comprehensive analysis of the current state of the industry. The report offers valuable insights into premium movements, the impact of weather events, regulatory developments, and emerging risks affecting strata insurance. - read more |
| ICA Calls for Strata Law Reforms to Address Rising Insurance Costs in Victoria 22 Jan 2026: Paige Estritori The Insurance Council of Australia (ICA) has recently called for substantial reforms to Victoria's strata legislation, citing a direct correlation between inadequate governance and escalating insurance premiums for residents. With approximately one in five Victorians residing in strata-titled properties, the need for effective management and oversight has become increasingly critical. - read more |
| Sure Insurance Expands Strata Coverage to $20 Million to Enhance Affordability in Northern Queensland 22 Jan 2026: Paige Estritori In a significant move to address the longstanding issue of insurance affordability in Northern and Regional Queensland, Sure Insurance has announced an increase in its residential strata insurance coverage from $5 million to $20 million. This strategic enhancement aims to provide body corporates and lot owners with more competitive premium options and improved access to essential insurance services. - read more |
| Artificial Intelligence: The Foremost Risk for Australian Enterprises 22 Jan 2026: Paige Estritori In a significant shift within the Australian business landscape, artificial intelligence (AI) has ascended to the top of the risk agenda for local enterprises. According to Allianz's annual global risk survey, 61% of Australian executives now identify AI as their primary concern, marking the first instance where this technology has led the risk list in Australia. This represents a substantial leap from its eighth-place ranking in the previous year. - read more |
| How Pre-Existing Conditions Influence Life Insurance Premiums When it comes to life insurance, a pre-existing condition refers to any medical condition or illness that you have been diagnosed with before applying for a life insurance policy. - read more
|
| Income Protection Insurance vs. Life Insurance: What's the Difference? Insurance is a crucial aspect of financial planning, offering protection against unexpected events that can have significant financial impacts. Among the various insurance options available, two prominent types are Income Protection Insurance and Life Insurance. - read more
|
| Dispelling the Myths: Why Income Protection is More Accessible Than You Think Income protection insurance serves as a financial safety net, designed to support individuals in the event that they are unable to work due to illness or injury. The significance of this type of insurance lies in its ability to provide a continuation of income during tough times, ensuring that one's financial responsibilities are taken care of. - read more
|
| Income Protection Needs Assessment: Are You Prepared for the Unexpected? When life throws unexpected challenges your way, being financially secure becomes a priority. Income protection is a safety net designed to help you manage your finances when you're unable to work due to illness or injury. It provides peace of mind, ensuring that you can maintain your lifestyle and meet your financial obligations, even when your regular income stream is disrupted. - read more
|