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Insurance Valuation Services

More or less?



Today, there is much to consider when re-negotiating property insurance:

  • Increased losses from natural disasters around the globe have stabilized property insurance rates; soon, property rates could increase for the first time in several years.
  • Construction costs have shown dramatic changes, both positive and negative, during the past four years, making it increasingly difficult to determine accurate insurable values.
  • Currency fluctuations are creating new replacement cost realities for imported machinery and equipment.
  • Underwriters remain steadfast regarding their need for precise and detailed values, which is making it an arduous task to obtain coverage.

The foregoing is now bearing considerable weight on how the current insurable value of property is derived.  Too often, insureds prepare their statement of values by simply inflating last year’s assumptions.  Unfortunately, the resultant figures are often inaccurate, leading to payment of unwarranted excess premiums and/or insufficient coverage.

American Appraisal is here for you.  Other valuation firms may claim to understand property insurance.  We’ve actually lived it.  Many of our insurance valuation Consultants have previously worked with insurance underwriting companies.  Who better to understand your need for accurate, timely insurance valuations?

We invite you to discover the American Appraisal difference.

Who we serve


Since 1896, American Appraisal has completed tens of thousands of engagements to determine the insurable values of all types of buildings, equipment and contents; it is tempting to say that we have seen it all.  The reality is that our insurance valuation service is as broad as it is deep.

Today, we provide insurance valuation services on a global basis for virtually every public and private market sector.

We have been engaged to handle some of the largest and most challenging valuations of the past decade, including the inspection and/or valuation of the following properties:

  • 86 electric power-generating facilities in 20 countries around the world
  • Historic properties as diverse as Churchill Downs, Union Station (Washington DC) and many state capitol buildings in the US
  • 500 buildings for an Ivy League university, some dating back as far as the early 1700s
  • 200 assisted living centers in the US, Canada, UK and Germany
  • Inspected and appraised 4,400 buildings in 15 months throughout North America on behalf of a Lloyd’s syndicate
  • 50 plus North American universities that are members of a reciprocal insurance exchange
  • Over 5,500 churches in Episcopal and Catholic dioceses in the past five years Major sporting complexes including Lambeau Field, Minute Maid Park, Rogers Centre, Tiger Stadium, Arrowhead Park, American Airlines Center and the Hubert H. Humphrey Metrodome
  • More than 30 oil refineries and petrochemical plants in the former Soviet Union and Eastern Europe
  • Some of the world’s largest aluminum, nickel and copper production facilities
  • 15 steel mills with total capacity of 70 million tons of annual steel production
  • 21 hotels and casinos for a major gaming entity
  • A statewide independent college risk pool with 16 members and more than 500 buildings
  • Turnpike commission properties including offices; interchanges; and maintenance, service and radio sites totaling more than 1,000 buildings/structures


What we do


Are you confident that your statement of values accurately reports

all of your insurable property?

Do you know where your property’s reported insurable values come from?

Have you kept pace with the change in assets within your facilities?

How well was your statement of values received when last marketed?

Is underwriting your property coverage a challenge?

If any of these questions gave you pause, it is time to talk to us.  American Appraisal is recognized as the consummate thought leader, and is the preferred provider to many of the world’s largest corporations and all levels of government.  Major insurance companies and brokers recognize the quality of our analyses and thoroughness of our reports, as evidenced by their willingness to recommend American Appraisal as a preferred solution provider. 

Broadly speaking, we provide the following insurance valuation services for buildings, equipment and other contents:

  • Calculation of insurable values to support placement of replacement cost and/or actual cash value coverages
  • Primary and secondary Construction, Occupancy, Protection and Exposure (COPE) data analysis
  • Post-loss services


Building Appraisals
Full-scope, component-based services
American Appraisal utilizes a full-scope, component-based methodology for insurance valuations.  This approach is significantly more comprehensive than a square footage and occupancy (use) method.  Our services provide a meticulous inspection of each building, including a tape-and-measure tour of the premises, and identification and recording of various construction components and major service systems.

COPE data collection services
There is a growing interest among underwriters for COPE data.  To accommodate this need, American Appraisal compiles and reports primary COPE data as a standard deliverable.  We can also provide GPS coordinates, report flood zone data and collect specified secondary windstorm data for each property in order to further assist the location analysis, which is becoming an increasingly important component of the underwriting process.


Types of COPE data collected include:

Primary COPE Data    
  • Property description
  • Address
  • Class of construction
  • Year of construction
  • Square feet of space
  • Number of stories
  • Average story height
  • Wall construction
  • Roof construction
  • Heating system
  • Cooling system
  • Fire alarm
  • Sprinklers
  • Entry alarm
  • GPS coordinates
Optional Secondary Windstorm COPE Data  
  • Building construction quality
  • Roof age
  • Roof anchor
  • Basement flood protection
  • Cladding type
  • Frame-foundation connection
  • Opening protection
  • Content damage-proneness grade
  • Roof covering
  • Roof geometry
  • Roof equipment hurricane bracing
  • Appurtenant structures
  • Roof sheathing attachment
  • Ground-level equipment protection
  • Flash and coping quality
  • Flood zone indication
 
 
Limited-scope services
We can also provide limited-scope services such as modeling of personal property and trend analysis.
 
Periodic updating of previously appraised facilities
This is offered for facilities that American Appraisal has previously valued, and typically can be completed annually for a period of five to seven years between new site inspections.
 
Equipment Appraisals
Our comprehensive equipment valuation includes the physical inventory and valuation of all movable equipment. The level of detail will vary according to the client’s specific requirements, and can range from a single value for all equipment in a building to a detailed listing of all assets in excess of the client’s capitalization threshold. Individual equipment detail can include:
 
  • Location
  • Description
  • Asset number
  • Manufacturer
  • Model number
  • Serial number

 

Alternately, the insurable value of equipment and/or building contents for certain occupancies
can be estimated on the basis of building size and occupancy. This approach relies upon American Appraisal’s proprietary databases and models - information consolidated from decades of completing detailed insurance valuation assignments.
 
A hybrid approach may also be used, which includes the physical inventory and valuation of major equipment (with a unit cost in excess of a minimum threshold) and the modeling of minor assets (with a unit cost below the threshold). 
 

Why us?


If you’re contemplating the engagement of a valuation firm, ask yourself:  Which one brings the most experience to the table?  Who employs Consultants who have actually worked in the insurance industry?  Which firm utilizes the most comprehensive appraisal approach and methodology?  When you examine the realities, we think you will find there is only one answer ...American Appraisal.

We know insurance valuation.

We have walked in your shoes.  A number of our consultants spent 15-20 years working for FM Global, a major property insurer of highly protected risks.

  • Our global insurance valuation team comprises more than 100 seasoned professionals who annually value insurable property aggregating hundreds of billions of dollars.
  • We have handled some of the largest and most extraordinary valuations of the past decade, including industrial facilities of the world’s leading multinational companies, entire states/provinces, historic landmarks, cathedrals, universities and power-generation facilities. 

We are independent.
American Appraisal focuses exclusively on valuation and related solutions. That independence guarantees our greater objectivity.

  • This is our only business.
  • We are independent of any insurance broker, underwriter or other conflicts.

We are experts.
Breadth and depth of expertise eliminates the need to rely on subcontractors.  Our Consultants have the experience necessary to value virtually any tangible business asset.

  • Focused on and committed to valuation since 1896
  • Professional participation include AGRiP’s Quality Education Initiative committee member and URMIA communications committee chair
  • Unrivalled interaction with ASA, a key valuation standard setting agency
  • Frequently presenting on valuation issues to national and regional insurance conferences including RIMS, PRIMA, URMIA and ASHRM
  • Recognized by leading brokers and underwriters
  • Credentials include PE, CPA, CFA, ASA, ABV, RICS, MAI and MBA

We are focused on client needs.
American Appraisal is employee owned.  We aren’t merely involved in valuation; we are unequivocally committed to meeting Client needs.  On every engagement, direct Client access to the firm’s senior management is always the norm, never an exception.

We are ‘glocal’. We believe there is a world of difference between being global and acting global.  We call it glocal:the ability to think globally and act locally.

American Appraisal, the world’s only glocal valuation firm™, comprises 900 employees operating from major cities throughout Asia-Pacific, Europe, and North and South America.

We are experienced


Over the past decade alone, American Appraisal has performed hundreds of insurance valuation projects across all market segments for Clients as diverse as:

AES Global Insurance Company

Alliance of Schools for Cooperative Insurance Program

California Joint Powers Risk Management

Campbell Soup Company

Canadian Universities Reciprocal Insurance Exchange

Cargill, Incorporated

Church Insurance

City of Atlanta

The Coca-Cola Company

Cooper Tire

Dean Foods

Dynegy Inc.

Ecclesiastical Province of Miami

Exelon

Fairmont Hotels & Resorts

Florida Independent Colleges & Universities

FM Global

Four Seasons Hotels

GlaxoSmithKline

Harvard University

Johnson Controls

Joy Global

Kraft Foods Group

Lockheed Martin Space Systems Company

Mars, Inc.

Memorial Hermann Healthcare System

MGM Resorts International

Miami Dade Aviation Department

Nestlé

New Mexico Public Schools Insurance Authority

New York University Medical Center

Northrop Grumman Corp.

Peerless Insurance

Pennsylvania School Board Association

Pennsylvania Turnpike Commission

 

PepsiAmericas, Inc.

Pirelli

RJ Kiln & Co.

Rolls-Royce North America, Inc.

Saudi Basic Industries Corporation (SABIC)

SKF USA, Inc.

South Carolina Municipal Insurance and Risk Financing Fund

Starwood Hotels & Resorts Worldwide

State of New Mexico

State of Vermont

Sunrise Senior Living, Inc.

Texas Association of Public Schools

Texas Association of School Boards

The Tribune Company

Unilever N.V.

West Virginia Board of

Risk and Insurance Management

Wm. Wrigley Jr. Company

and hundreds more…

 

 

 

 

 

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