Public sector portfolios feature diverse properties from residential, through to leisure facilities and listed buildings, which presents many challenges when valuing for insurance purposes. Properties are often held for many years without any formal insurance valuation programme and are subsequently incorrectly insured.
Rushton International provides a cost-effective solution, utilising valuation models to value public sector residential portfolios. We provide accurate valuations and support the allocation of values for recharging insurance costs to tenants and leaseholders. We understand the changing regulatory environment and ensure compliance with the Insurance Act of 2015. Please see the attached links for further information on the insurance Act.
We work with many public sector clients and our service helps insurance Managers as follows:
- Ensures the public body is not under or over insured in the event of a loss
- Justifies and supports a claim settlement
- Eliminates time-consuming and unnecessary pressure on in-house personnel in providing reinstatement insurance values
- Establishes 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 responsibility of the local authority or public body
Some Recent Projects We Have Valued
Company Name:Local Council Buildings Valuation
Assets Valued: Valuation of all buildings on an industrial estate
Service: On-site surveys and comprehensive insurance valuation report
Company Name:Local Council
Assets Valued: Valuation of all commercial buildings that form part of their portfolio.
Service: Valuation for insurance purposes and ongoing assistance.
Company Name:Local Authority
Assets Valued: Valuation of all buildings and contents located at the theatre.
Service: On-site surveys and comprehensive insurance valuation report, plus valuation for accounts purposes.