Improving risk management using asset valuations

In John Foord’s latest whitepaper installment, we address the common myths about insurance valuations and how regular independent valuations makes a difference during claims and settlements.

  1. Are insurance appraisals not important to senior management?
  2. Insurance valuations are too expensive and hence ignorable
  3. Are insurance brokers experienced enough to arrive at asset replacement costs?
  4. Surely, index of historical costs are accurate enough to arrive at replacement cost
  5. Asset valuations can be done in-house and thus professional valuations are not necessary
  6. Assets are brand new and thus I can exclude valuation effort
  7. Asset valuations do not significantly affect insurance premiums
  8. A professional valuation will be too disruptive to my business
  9. There is limited value in an insurance valuation exercise

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