How secure is ASI given the market condition and the current market of claims?
ASI only insures credit unions. Unlike federal deposit insurance which must insure every financial institution regardless of safety and stability, the credit unions ASI insures must undergo rigorous examination prior to being accepted. This careful selection of participating credit unions controls losses. ASI is successful because of sound underwriting and risk management policies. They are licensed by the Ohio Department of Insurance and dual regulated by the Ohio Departments of Insurance and Commerce. Credit union examiners from each state in which ASI operates are invited to participate in a comprehensive annual exam of the company. In addition, the Ohio Department of Insurance conducts a cyclical statutory examination of ASI; Deloitte & Touche Accounting Firm annually certifies the company’s financial statements; and an independent actuary reports each year as to the sufficiency of the company’s reserves.
