Case Study Extracts
- We were instructed to carry out a valuation across 24 public sector administration buildings. The buildings ranged from public facing facilities to back office IT support. Our valuation concluded that the client had insured the buildings following index-linking of historic costs or purchase cost.
- Out of the last 10 valuations undertaken on behalf of public sector clients approximately 50% were under insured.
Public Sector Valuations:
The public sector consists of central Government, regional administration and local authorities. The assets that fall under the responsibility of the public sector can vary considerably from public facilities such as school and hospitals, housing, infrastructure through to public amenities.
Rushton International has carried out many valuations in the public sector and we have the experience to value the diverse range of assets across this sector
- Ensures the public body is not under or over insured in the event of a loss.
- Justify and support a claim settlement.
- Eliminates time consuming and unnecessary pressure on in house personnel in providing reinstatement insurance values.
- Establishment of a long term programme to maintain accurate replacement insurance values including annual updates.
- Shows good governance as part of the management of the assets that fall under the responsibly of the local authority of public body.
“Rushton International valued a hospital for insurance purposes on our behalf. At the time we were unsure on the reinstatement value and following some modernization works we decided to review the sums insured. The valuation concluded that the hospital was incorrectly insured as we had used our in-house property team to set the sums insured which had been update on a yearly basis. Rushton International provided an independent valuation and have assisted on a yearly basis to help keep the figures up to date. ”
Insurance Manager, Local Authority, South West England
2 June, 2016
Winning another best stand award at last year’s Airmic conference was a special moment for the Rushton team. Our stand always represents our culture and values of quality, attention to detail, professionalism and fun! Airmic travels to the spa town of Harrogate in June. Ideas have been flowing for this year’s theme so please come […]