2. Our recommendations
We made one recommendation to address our findings. All audited agencies have accepted the recommendation.
1. Our findings
What we examined
For this review we had a single line of inquiry:
1. Do agencies meet the requirements of the Data Quality Information Management Framework standard (Data Quality Standard)?
To answer this question, we examined:
4. DBI compliance and the role of agencies
Various agencies promote compliance with DBI requirements. Following the PDH insolvency, agencies coordinated better on DBI matters. While VBA implemented more compliance and enforcement activities, it does not make sure all relevant building permits have a valid DBI policy.
Covered in this section:
3. VMIA's management of DBI
VMIA has policies and strategies to manage its DBI product effectively, including sound underwriting and claims management guidelines. It could improve its claims processes by being more transparent with homeowners and by monitoring and reporting on performance against key indicators, such as homeowner satisfaction.
Covered in this section: