The level of value for fixed assets is an important element of the company balance sheet, and an independent professional assessment is necessary if the values quoted are to give an accurate reflection of the firm's status.

As part of fixed asset management, value revisions can be a critical element in bid defence, acquisition and growth strategies of a business.

Nowadays, modern profitable businesses better understand the need, not just for insurance valuations, but also for annual value monitoring as part of risk management.

Asset acquisitions, retirements, UK and foreign inflation rates and exchange rate differentials can create value fluctuations. Overstated sums insured means wasted premium costs, whilst inadequate cover can spell disaster in the event of a loss.

Whilst the insurance market, through the leading brokers and independent risk managers, constantly seek to advise insured parties on better risk management, responsibility for sums insured remains with the client.