Feeling Average? Shake those blues with an insurance valuation!

Overview - The foundation of any property insurance cover is the sum insured … but is it correct?

Speaker Profile - Martyn Barrett BSc MRICS FCILA ACII, Chartered Surveyor, Loss Adjuster and Insurance Practitioner , Director, Barrett Corp & Harrington Ltd Martyn started his career as a Quantity Surveyor, then as Loss Adjuster for in excess of 20 years predominantly in Cunningham Lindsey, in its various guises. At the end of his career there, he was head of CLUK’s Valuation Service. In 2006 he became one of the founding directors of BCH. BCH are a specialist surveying practice which brings together the combined knowledge of surveying, insurance and loss adjusting to provide RICS compliant insurance reinstatement cost assessments (RCAs) for a wide range of clients across all sorts of property. Martyn sat on the RICS panel which has recently overseen the revising of the latest professional guidance for members undertaking RCAs.

Course Content - The song says ‘The foolish man built his house upon the sand’. Are your property owner clients basing their insurance purchase on a shaky foundation? In the event of a major loss, an inadequate sum insured could result in the policy not responding as expected. It could lead to a reduction in claim pay out.

This session will give insurance professionals vocabulary to discuss and try to highlight possible underinsurance with policyholders. Statistics regarding underinsurance will be shared, as well as case studies that could then be referred to when discussing the insurance purchase. The session will also offer guidance on critically reading a valuation report and in the selection process of an appropriate surveyor/ valuer for a policyholder.

Learning objectives - At the end of the presentation attendees will be able to:

• Understand the importance of insuring a property for the correct value.
• Spot the tell-tale signs of possible underinsurance.
• Discuss with property owners the reasons why there may be underinsurance.
• Understand the different valuation methods and be able to advise on the most appropriate for a client.

PARKING & LUNCH:

• GRFC is free of charge for our members for the duration of their visit.

A buffet and refreshments will be available from 12pm with the talk due to start at 1230pm and last for 60 minutes. Facilities at GRFC are able to be used by those requiring disabled access.