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Review of insurance replacement valuations, NSW

Review of insurance replacement valuations, NSW

RPS quantity surveyors undertook Insurance Replacement Valuations for a large organisation in possession of approximately 370 properties throughout the Newcastle and Hunter Region. During the six month exercise we found that some of the buildings were grossly over-insured and some under-insured. In addition to this we found that some of the buildings had previously been sold with insurance premiums still being paid unnecessarily. The final recommended insured value of all buildings owned by the organisation equated to approximately $400 million.

 

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