Ports Case Study
Ports Case Study
Over the last 24 months Rushton International has valued several ports for clients in the UK and overseas, with recent assignments in Wales and Scotland. Due to the historic nature of most ports and how they have been developed over many years, there can be a wide discrepancy in sums insured. Costs are known for small projects such as repairs to civil structures or additional cranage capacity. However, across the whole port certain items are often not included in the current insurance schedule and this can leave clients exposed. Working with our clients we can provide advice on reinstatement values for buildings, civil structures, plant, equipment and general contents items.
Our valuation work is often a mixture of onsite and desktop analysis. Due to Covid-19, we have completed some assignments from the desk and utilising information provided by the client such as drone footage. The delineation between buildings and plant items needs careful consideration in this sector along with who holds insuring responsibility for occupied areas of the port. When acting for a Port Authority clarity is needed in relation to ownership of assets, together with the curtilage of the port. Typical assets to be included are quays, pontoons, breakwaters, piers, car and passenger facilities together with communication systems and navigational aids. Working to an agreed definition of inclusions and exclusions, together with a port plan, helps to report a summary of value across the plan so that key items are identified and ultimately the correct levels are insured.
£65Bn of valued annually
500+ valuation assignments conducted each year
of clients are incorrectly insured
About Rushton International
Rushton International is an independent and impartial asset valuation and advisory firm. We specialise in the valuation of plant, equipment and buildings for insurance purposes. With our team of qualified and accredited valuers, we have the experience, qualifications and expertise to value any asset, anywhere in the world.Read more
Rushton International is a tried and trusted name in insurance valuations. Our valuation advice assists clients, risk managers and their brokers to accurately and confidentially set sums insured for the fixed assets in their insurance programme.More
We work with our clients to deliver comprehensive valuation advice for financial reporting purposes. By using our sector experience and market knowledge we are able to assist with the valuation of plant, equipment and other specialised assets in order to estimate fair value for GAAP and IFRS financial reporting purposes.More
Rushton International provides asset management solutions that are tailored to our clients’ needs. Our work ranges from asset verification, preparation of computerised asset registers and updating asset registers.More