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Property Valuation: A Hard Market Issue

Assisting you during uncertain times

Heightened Scrutiny of Estimated Property Values

The hard market for property insurance has brought intense scrutiny to the subject of property values. When underwriters perceive estimates of values to be accurate, “blanket limits” can generally still be achieved. But insureds who cannot present accurate estimates of property values are seeing their “blanket limits” replaced with scheduled or “per location” limits, sometimes with imposition of a coinsurance provision as well.

In fact, in the current market, most underwriters will not even entertain a new risk in the absence of accurate property values. This only furthers the effects of already-restricted insurance market capacity at exactly the time many insureds need to attract new capacity to their property insurance renewals.

TÜV SÜD GRC’s Property Valuation Services

TÜV SÜD GRC’s property valuation services are proving particularly helpful to clients as they renew their property insurance programs in the current hard market. Working together with our client, we develop reliable property replacement costs, which in turn are used in underwriting negotiations with incumbent and prospective new insurers alike.

Benefits to the client include:

Quality of Our Services
Our property valuations are performed by skilled, certified appraisers trained in the valuation of real and personal property for insurance purposes.

Remote Services Available
While onsite inspection is generally the preferred method, credible “Desktop” property valuations are available. They have proved to be an effective valuation service that can be performed remotely at times when onsite inspection is not feasible.

Reputation
TÜV SÜD GRC is well-regarded among insurers worldwide, many of whom are themselves our clients. This lends a high level of credibility to our property valuations when they are presented to underwriters.

Our Status as an Independent
TÜV SÜD GRC presents as an independent, unbiased provider of services. Our independent status serves as further enhancement to our credibility in the eyes of underwriters.

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