Special Considerations

In arriving at the Reinstatement Insurance Value we would always take into account, where applicable, the opportunity of procuring materials and assets locally.

Benefi ts of Valuation

• Ensures the company is not under insured in the event of a loss

• Justify and support a claim settlement

• Ensures the company is not over insured and correct cover is purchased.

• Enables risk management to target effort and spend on risk reduction strategies more effectively, particularly on business critical operations including areas of signifi cantly higher risk.

• Eliminates time consuming and unnecessary pressure on in house

gpersonnel in providing Reinstatement Insurance Values.

• Establishment of long term programme to maintain accurate Replacement Insurance Values including annual updates.

• Provision of detailed plant registers for onshore facilities which enables accurate tracking of additions, disposals and transfers.

• Tracking of fl uctuating exchange rates.

Bases of valuation

• Reinstatement As New For Insurance Purposes • Existing Use • Remaining Life • Indemnity

Services

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