Public Sector Valuation Case Study
Rushton International was instructed to carry out a public sector valuation across 15 administration buildings, ranging from public facing facilities with offices above to town halls.
The buildings had not been valued for many years and, following a significant loss where the building was underinsured, the Insurance Manager decided to roll out a valuation exercise.
We attended site to complete the public sector valuation exercise, arranging a site inspection schedule with the Insurance Manager.
We helped the client by providing them with a detailed valuation report per location. Separate reports were required as the Insurance Manager wanted to share the reports with different stakeholders at each location.
One location included a mixture of different public sector departments and operations, including some outsourced ones. We were required to allocate the valuation per area so that the appropriate cost could be recharged, as needed by the Insurance Manager.
Unfortunately, the client had been relying on historical information and updating the values on a yearly basis over 8+ years. There was no record of how the initial values were established and whether these reflected reinstatement costs for insurance purposes. The outcome of the public sector valuation was that the client was provided with current advice on the reinstatement values for the buildings and we have since updated the values from the desk by way of our ongoing relationship with this client.
£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