Farm Insurance Australia :: News
SHARE

Share this news item!

Massive Fines Hit Rogue Builders Over Fake Insurance

Massive Fines Hit Rogue Builders Over Fake Insurance

Massive Fines Hit Rogue Builders Over Fake Insurance?w=400

The information on this website is general in nature and does not take into account your objectives, financial situation, or needs. Consider seeking personal advice from a licensed adviser before acting on any information.

On July 19th, 2024, in a significant crackdown on fraudulent building practices, Aycon Constructions along with its director, Seyit Ayranci, received a record-setting fine of $250,000 from the Victorian Building Authority (VBA).
The enforcement action came after the construction firm was implicated in the use of falsified insurance certificates to secure building permits.

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 Ayranci’s registration as a builder has been revoked, and he has been disqualified from the industry for three years - the maximum duration allowed under current legislation.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

Please Note: If this information affects you, seek advice from a licensed professional.

Share this news item:

Insurance News

Queensland Strata Owners: Act Now to Lower Your Insurance Premiums
Queensland Strata Owners: Act Now to Lower Your Insurance Premiums
05 Dec 2025: Paige Estritori
Strata property owners in North and Central Queensland are being urged to take advantage of new federal and state initiatives designed to reduce insurance premiums and enhance cyclone resilience. These programs provide financial incentives for property upgrades that can lead to significant savings on insurance costs. - read more
Strata Living in Australia: A $1.4 Trillion Market and Growing
Strata Living in Australia: A $1.4 Trillion Market and Growing
05 Dec 2025: Paige Estritori
The insured value of strata properties in Australia has reached an estimated $1.4 trillion, underscoring the growing significance of strata living in the nation's housing landscape. This substantial valuation reflects the increasing number of Australians choosing strata-titled properties as their preferred mode of residence. - read more
CHU's 2025 Report: Strata Insurance Premiums Remain Stable Amidst Industry Shifts
CHU's 2025 Report: Strata Insurance Premiums Remain Stable Amidst Industry Shifts
05 Dec 2025: Paige Estritori
CHU, Australia's largest 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
Surge in Mental Health Claims Reshapes Australia's Insurance Landscape
Surge in Mental Health Claims Reshapes Australia's Insurance Landscape
02 Dec 2025: Paige Estritori
Australia's insurance industry is experiencing a significant shift as mental health conditions have become the leading cause of total and permanent disability (TPD) claims. Recent data from the Council of Australian Life Insurers (CALI) indicates that mental health issues now account for nearly one-third of all TPD claims, marking a substantial change in the industry's claim patterns. - read more
Australian Insurance Premiums See Notable Decrease
Australian Insurance Premiums See Notable Decrease
02 Dec 2025: Paige Estritori
Recent data indicates a notable decline in life and income protection insurance premiums across Australia, providing consumers with more affordable coverage options. According to the latest Direct Life Insurance Report from Rainmaker Information, direct life premiums have decreased by 7% since 2024. Similarly, direct income protection premiums have seen significant reductions, with average premiums for waiting periods of 30 days and 90 days decreasing by 12% and 13%, respectively. - read more
TAL's Health Sense Plus Now Covers Income Protection Policies
TAL's Health Sense Plus Now Covers Income Protection Policies
02 Dec 2025: Paige Estritori
In a significant development for policyholders, TAL has expanded its Health Sense Plus program to encompass income protection (IP) policies. This initiative, effective from August 8, 2025, aims to incentivise proactive health management by offering premium discounts to clients who engage in preventative health checks. - read more
Northern Australian Marinas Appeal for Government Support Amid Escalating Insurance Costs
Northern Australian Marinas Appeal for Government Support Amid Escalating Insurance Costs
02 Dec 2025: Paige Estritori
Marina operators across Northern Australia are sounding the alarm over surging insurance premiums, with some reporting increases exceeding 300% in recent years. This financial strain is prompting urgent calls for government intervention to ensure the sustainability of the industry. - read more
Coast Insurance Announces New Co-CEOs to Propel Strategic Growth
Coast Insurance Announces New Co-CEOs to Propel Strategic Growth
02 Dec 2025: Paige Estritori
In a significant move within the Australian insurance sector, Coast Insurance has appointed Stephanie Muller and Jordan Brindley as Co-Chief Executive Officers. This strategic decision underscores the company's commitment to robust leadership and sustained growth. - read more
Suncorp Braces for $350 Million Reinsurance Impact Following Severe Storms
Suncorp Braces for $350 Million Reinsurance Impact Following Severe Storms
02 Dec 2025: Paige Estritori
Recent supercell thunderstorms have wreaked havoc across South East Queensland and northern New South Wales, leading to significant financial implications for insurers. Suncorp, a major player in the Australian insurance market, is preparing for a substantial reinsurance retention of $350 million as a result of these events. - read more
QBE Insurance Faces Market Challenges as Premium Growth Slows
QBE Insurance Faces Market Challenges as Premium Growth Slows
02 Dec 2025: Paige Estritori
QBE Insurance Group, Australia's largest insurer by market value, recently experienced a significant decline in its share price, reaching a seven-month low. This downturn is primarily attributed to a noticeable slowdown in the company's premium rate growth during the third quarter of the 2025 fiscal year. - read more


Farm Insurance Articles

What Australian Farmers Should Know About Crop Insurance
What Australian Farmers Should Know About Crop Insurance
Crop insurance is a type of insurance policy designed to protect farmers from the financial losses that arise from damages to their crops. This could be due to various risks, including adverse weather conditions, pests, and diseases. - read more
How to Safeguard Your Farm: A Guide for Australian Farmers
How to Safeguard Your Farm: A Guide for Australian Farmers
Farming is inherently risky. With factors like weather, pests, and market fluctuations affecting crops, it's crucial to manage these risks effectively. - read more
Farm Liability Insurance Costs vs. Benefits: Is It Worth It?
Farm Liability Insurance Costs vs. Benefits: Is It Worth It?
Farm liability insurance is a type of coverage that protects farmers from financial losses due to legal claims and lawsuits. This insurance is crucial for safeguarding your farm against various liabilities that may arise from farm operations. - read more
Investing in Your Farm's Legacy: Estate Planning and Farm Insurance Combined
Investing in Your Farm's Legacy: Estate Planning and Farm Insurance Combined
Farming is much more than an occupation; it's a way of life and a heritage that often spans generations. In today's ever-evolving agricultural landscape, embracing modern practices while preserving your farm's future has never been more crucial. Estate planning emerges as a pivotal strategy for safeguarding your agricultural legacy, ensuring that your hard-earned investments and the land you hold dear are passed on according to your wishes. - read more
Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums
Proven Strategies for Australian Farmers to Reduce Farm Insurance Premiums
Welcome to our comprehensive guide on navigating the complexities of farm insurance for Australian farmers. As an integral part of the agricultural industry, insurance provides a safety net that helps secure the livelihood of farmers against unpredictable events that can lead to financial hardship. From property damage due to natural disasters to loss of livestock or crops, having adequate farm insurance can make all the difference in keeping a farming operation afloat in times of crisis. - read more
A Farmer's Guide to Essential Farm Insurance Terminology
A Farmer's Guide to Essential Farm Insurance Terminology
Farming is a vital industry in Australia, requiring significant investment in equipment, crops, livestock, and labour. As with any major investment, protecting it is crucial. That's where farm insurance comes in. - read more
Protecting Your Herd: The Aussie Farmer's Guide to Livestock Insurance
Protecting Your Herd: The Aussie Farmer's Guide to Livestock Insurance
For Australian farmers, livestock is more than just a vital asset; it's the heartbeat of their livelihood. In a land where the sunburnt plains are as relentless as they are beautiful, protecting your herd isn't just a duty; it's a necessity. That's where livestock insurance comes into play—a shield against the unpredictability of Mother Nature. - read more
5 Essential Farm Insurance Policies Every Australian Farmer Needs
5 Essential Farm Insurance Policies Every Australian Farmer Needs
Farming in Australia is not just a job, it's a way of life. However, it’s also a livelihood that comes with its own unique set of risks. From unexpected weather events to machinery breakdowns, the life of an Australian farmer is fraught with uncertainties. - read more
How to Protect Your Harvest: Tips for Choosing the Right Crop Insurance
How to Protect Your Harvest: Tips for Choosing the Right Crop Insurance
Farming, at its core, is an enterprise fraught with uncertainty. Weather calamities, pests, diseases, and fluctuating market conditions can all impact the output and quality of produce. This is where crop insurance proves its worth, serving as a safety net for farmers against the myriad risks they face each season. - read more
Risk Management and Insurance Options for Farmers
Risk Management and Insurance Options for Farmers
Risk management is the practice of identifying, assessing, and prioritizing risks followed by coordinated efforts to minimize, monitor, and control the probability or impact of unfortunate events. In farming, risk management involves various strategies to protect the financial health and operational stability of the farm. - read more


Need a Quote?
Start your free farm insurance quote comparison here.
Farm Type:
Postcode:

All quotes are provided free and without obligation by a Specialist from our National Broker referral panel. See our Privacy Statement for more details.


Knowledgebase
Term Life Insurance:
A life insurance that provides a cover for a specific period of time - usually one to five years or until the insured reaches age 65 or 70.