Points of interest

• Recent insurance statistics report that over 50% of UK commercial property may be under insured.
• Plant and machinery is often prone to cost variations, owing to the impact of exchange rate movements on replacement cost. 
• Clients commonly fail to appreciate that a day one loading factor only fully protects, if the base declared value is accurate at the point of loss.  

The accuracy of declared values for material risks is an essential feature of any cover programme, both to protect assets and the interests of owners and shareholders.  In extreme cases, under insurance can affect the very survival of a business in a loss scenario.

A common challenge for clients is understanding the true level of declared value needed, as under insurance may lead to a shorfall in a claim settlement, whilst over insurance simply results in excess premiums being paid for no economic benefit.

Charterfields offer a comprehensive support service to clients, brokers and risk managers in the UK and international markets for material assets across all sectors of business and commerce. 

Our services cover

• Property
• Plant, machinery and equipment
• Heritage property
• Tenant's improvements
• Service installations
• Infrastructure
• Communications
• IT hardware
• Valuation health checks
• Annual monitoring