Our Valuation services are commonly required for one of the reasons of Insurance valuation:
❖ The value of assets to be replaced in the event of a total loss
❖ To determine the sum to be paid following loss or damage as aresult of an insured peril.
Our Valuation Engineer is to advise:
The reinstatement cost estimate and/or indemnity value estimate of the assets in some cases for insurance purposes at the date of valuation.
Valuations for insurance purposes are a specialized area of valuation practice requiring in-depth experience and knowledge of insurance and the particular property or item of plant and equipment
Insurance valuation requires a variety of skills and professional experience, such as:
❖ Appreciation of costs for construction or supply of assets of similar size and utility.
❖ Appreciation of the demand and supply of building materials and labor, professional services and planning and building approval processes that determine the time period for rebuilding.
❖ Appreciation of the costs of installation and commissioning as well as the time frame for factories and insurance appraisal machines.
❖ The provisions of a planning scheme that can influence whether a building can be rebuilt in its current form.
❖ Inheritance issues.
❖ General insurance policy provisions (including special differences between returns and compensation, inclusions and exclusions, joint insurance and average conditions).
❖ Inflation in building costs.
❖ Market rent values (for loss of rent or allowance for alternative accommodation).
❖ The size and level of all improvements including building structures and additional improvements.
PT Multipilar Energi serves primarily to focus on insurance valuation for the purpose of determining the insured amount, a broad understanding of valuation of losses after loss or damage is very helpful in handling claims.
Our Valuation services are usually needed for one of the reasons:
❖ The value of assets to be replaced in the event of a total loss
❖ To determine the sum to be paid following loss or damage as a result of an insured peril.
The role of PT Multipilar Energi in Valuation Practices depending on the scope of work agreed with the client is to give advice:
❖ Estimated recovery costs and / or estimated value of compensation from assets for insurance purposes at the valuation date.
This follow the result by risk survey team to make Client understanding what risk survey has been valued in grey area as EML (Estimated Maximum Lost) or as using our value as basic for decide where insurance scope will be implemented by Client. Surveying valuation are used for assets of complex operations such as onshore installations, refineries to manufacturing facilities as a key essential for any risk management program.
To assist clients in asset calculation and analysis, PT. Multipilar Energi has developed a Comprehensive Cost Database Software, with various published and widely used indexes such as Marshal & Swift, Richardson Database (Process Plant Construction Cost), Nelson Farrar Index, IHS Markit Index, PPI Index and Chemical Engineering Index. In the calculation and analysis of assets we do not only for the company’s financial accounting but can also assess assets for insurance purposes. PT Multipilar Energi has 10 years of experience and more than 20 years of experience in the Valuer Team for assessment work in Indonesia.
There are 2 types of the reports that we usually perform, Normal Desktop/Survey Valuation and Individual Valuation. Most of our clients use the Normal Desktop/Survey Valuation Type. It provides a total value per unit within the limits of the battery or fence limit. But it is possible if there is a request for an individual type of Valuation report, which provides more detail per item or grouping values based on the client’s purposes. Normally the report provides data that we collect from the field and office for us to process and calculate based on international or local standard calculation methods depending on the construction standards of a facility used.
