As an entity licensed by APRA, the financial institution has to comply with rigorous standards such as Liability Valuation and Risk Management Standards, ongoing Reporting and Supervision Standards and Capital Adequacy requirements. An overview of these implications s provided on this website under our Corporate Profile.
Domestic Building Insurance FAQs
Yes, Assetinsure is an APRA regulated Australian insurer which meets the requirements of Section 137AA of the Building Act 1993. It is approved under Point 2(a) as a “designated insurer”.
Assetinsure has know how in credit assessment and access to a wealth of data which allows us to assess and qualify builders.
Yes, we have factored this in the rates.
Yes, however, if it is for more than 2 units on a site we require you to submit plans and documentation first for our perusal
Because we are targeting the better builders and pre-approve them, you don’t have to compensate the poorer builders. We also believe our checks on your building entity performance warrant cheaper premiums for you. We also don’t believe you should be penalized for having a Trust. We want to promote good building practices and improve the building industry by rewarding good builders.
Our rates are competitive and we are a smaller and nimbler organisation for the benefit of our customers.
We currently are only targeting experienced, good performing builders. We will review this position in due course.
Unless there has been a significant change in your circumstances, we aim for seamless renewal of eligibility.
Limits are reviewed on a case by case basis.
Assetinsure is a specialist insurance company with particular interest in credit related risks. That is why we are focusing on DBI.
Once we have issued your eligibility, you will receive log on details to your account and can start issuing certificates immediately on-line.