Asset values are fast rising across Asia amid surging costs.
Energy prices, for instance, are expected to increase 60% in 2022, while non-energy prices are about 30% higher than pre-pandemic levels1. High prices exert inflationary pressures across Asia’s industries, driving up underinsurance and other risks for businesses. For your organisation, ensuring that your valuations are accurate and up-to-date is critical to making the appropriate risk management decisions and reducing exposure to potentially costly liabilities.
Choosing the right valuation services partner
To ensure that they are fully covered in the event of a loss at a time when asset values are fast-rising, organisations need to partner with the right valuation services consultant that offers the expertise and tools that enable the accurate determination of the appropriate asset values to declare to insurers.
Common mistakes by organisations include assigning asset valuations to their bank, builder, or architect; using book or market value; or referring to last year’s value without sufficient analysis. The mistake of declaring the incorrect value can be costly; an over-declaration could lead to higher premiums, while an under-declaration could result in an insufficient insurance payout in the event of a claim, which could lead to significant uninsured losses and severe financial, legal and reputational repercussions for your organisation.
Hence, it is important to choose an all-rounded valuation partner that can support you with complete insurance valuation services.
Marsh Valuation Services: The complete business valuation solution
With a global network of insurer partnerships and over 10,000 assets valued annually, Marsh Valuation Services offers a complete valuation solution that has served many leading entities in Asia across sectors such as energy and power, oil and gas, education, technology, real estate and infrastructure. Our expertise helps ensure the correct, up-to-date values are attributed to each of your assets in compliance with your accounting requirements, minimising your organisation’s risk of over or under insurance.
Testimonial for Marsh Valuation Services
“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 making the process run smoothly.” – Marsh Valuations Services client
