SECS Insurance Claims and Settlement Process

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These stages describe the SECS claim and settlement process managed by the Victorian School Building Authority (VSBA).

Stage Description

1

The school:

  • completes the Department's VMIA Property Damage Claim Form

  • supplies the asset number(s) of the equipment being claimed

Note: When claiming for items not recorded on CASES21 Asset Management System (items valued under $5,000), attach a copy of its inventory showing full details, including purchase price and purchase date.

2

When a loss is caused by any criminal offence, then the school:

  • notifies police
  • obtains a police crime report
  • notes the police crime report on the Department's VMIA Property Damage Claim Form

3

The school forwards the form and any supporting information to property.claims@edumail.vic.gov.au

4

The VSBA:

  • raises the claim
  • forwards the claim to the Victorian Managed Insurance Authority (VMIA).

5

VMIA assesses the claim and:

  • compensation is calculated based on the depreciated value of the original purchase price
  • the level of depreciation varies according to the particular type of equipment concerned
  • items less than twelve months old are not subject to depreciation.

6

When the claim is made by a:

  • primary school, then an excess of $100 applies
  • secondary school, then an excess of $200 applies.

Note: The excess is subtracted from the settlement amount.  Schools are not required to pay the excess amount before settlement of the claim.

7

VMIA:

  • confirms the details of the settlement and provides completed batches to the VSBA for payment.  

8

The VSBA:

  • endorses the claim for payment for Accounts Branch to upload into the school's nominated bank account.

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