Welcome to the PI Insurance Hub
The current risk environment in relation to Professional Indemnity insurance is rapidly changing with many member firms being directly affected by premium increases and limited availability.
What is the API doing to support Members?
In addition to our Professional Standards Scheme we are working with a range of stakeholders, including the PI Insurance underwriters, brokers, lenders, and Government to advocate on behalf of our Members to try and find new or better solutions within the valuation PII industry framework to support our Members’ PII needs.
Introducing PropSec
The first of its kind globally, PropSec is a discretionary trust model exclusively built for API valuation professionals through a groundbreaking partnership between a professional Industry body, Brokers and Insurers.
A deep collaboration with Howden Insurance Group and the API, PropSec is an affordable, custom-designed PI insurance solution tailored to meet the specific needs of our Members. PropSec provides high-quality coverage, with the goal of reducing PII premiums through collaborative procurement and an opportunity to enhance risk management practices for the industry.
Related Posts & Documents
- Woodina Professional Indemnity Insurance Policies – Relaxation of Lender Restrictions
- Professional Indemnity Insurance Development Restrictions and NAB Panel Valuers
- Member Feedback about Professional Indemnity Insurance Challenges
- Professional Indemnity Insurance and Development Mortgage Valuations
- Professional Indemnity Insurance and the Australian Market
- The Benefits of Professional Standards Schemes – limitation of liability and consumer protection measures
Advocacy Activities
Got a Question?
Submit it through our webform below and our team will try to provide some general advice in response:
PI Insurance FAQs
For the APIV scheme to function in the event of a claim, all eligible APIV members must be covered by a PII policy.
Having a Professional Standards Scheme means that there is a limitation to the level of damages that can be awarded against you.
To ensure consumers will receive the appropriate compensation, it is vital that every APIV member maintains or is covered under a Professional Indemnity insurance policy that meets the minimum requirements as outlined in appendix B of the APIV Insurance standards.
