Marsh Valuations allows you to declare assets with confidence and ensure you’re covered in the event of a loss. We ensure the correct values are attributed to each asset and minimise the risk of over or under insurance. The benefits of a Marsh Insurance Valuation can include:
- Experience faster claims settlement
- Protect ownership interests of your physical assets
- Remove exposure through having your insurable values determined by professional insurance valuation experts
- Ability to reach all locations nationally
Financial Reporting Valuations
Depending on how the accounting is handled for your organisation’s property, plant and equipment assets, a valuation may be required to state your organisation’s investment in its property, plant and equipment assets and the changes in such investment, within your organisation’s Financial Reports. The principal issues in accounting for property, plant and equipment are the recognition of the assets, the determination of their carrying amounts and the depreciation charges and impairment losses to be recognised in relation to them.
The benefits of a Marsh Financial Reporting Valuation include:
- The valuation of all tangible asset classes including land, building, infrastructure, plant, equipment, IT, contents and fine art
- Compliance with relevant accounting standards such as AASB 116 and AASB 13
- Valuation reports that meet the rigour of internal and external audit • Commentary regarding any variances and potential material changes Combining your insurance and financial reporting valuation needs will result in a significant cost saving Common mistakes that businesses make when declaring their insurance values:
- Declaring their assets’ Book Value
- Declaring the value of what they would prefer to replace the asset with, rather than the existing asset
- Using last year's declared values or simply increasing values by a percentage
- Declaring their assets’ Market Value
- Asking the bank, builder, architect or real estate agent to value their assets
- Relying on advice from an in-house accountant or engineer
- Focusing on only one asset class i.e. declared values of buildings but not contents and equipment
- Initial project research and preparation (research, information gathering, preparation, understanding of your organisation’s operations and locations, project timeline etc.)
- Physical inspection – a specialist Property or Plant & Equipment insurance valuer undertakes an inspection of your assets
- Research analysis and reporting
- Delivery and findings
Who should participate?
- Finance Managers
- Insurance and/or Risk Managers
- Those responsible for declaring the values as part of your organisation’s insurance renewal
How it is delivered
An onsite inspection followed by detailed report suitable for assisting with declaring your organisation’s asset values for insurance or meeting your organisation’s requirements as per the accounting standards.
Why Marsh Valuation services?
Marsh Valuation Services undertakes the valuation of over 10,000 assets annually for many of Australia's leading entities across sectors such as residential, commercial, energy and power, aged care and health, education, religious, infrastructure, mining, manufacturing, property trusts, oil and gas and all levels of government. Our team comprises specialists in both property and plant and equipment valuations and can undertake the valuation of all tangible asset types.
“Marsh Valuation Services were knowledgeable regarding both the valuation and engineering aspects of the project. They were consultative throughout and always on hand to assist in make the process run smoothly.” - Marsh Valuations client