Timeline Asset Services Ltd: Insurance
Printable Version
TAS provides appraisal and asset services that are cost effective no matter what the size or location of your client’s business

What TAS can do for Insurance Professionals

Determining adequate coverage of your clients’ at risk assets, you need accurate, timely appraisals to verify the existence, condition and replacement value of the assets and capture critical documentation for loss recovery. TAS is your source for:

  • asset verification—visual confirmation and listing of declared assets
  • asset and inventory valuations—detailed appraisals to cursory review
  • photo catalogue of insured assets
  • scheduled site visits to verify asset acquisitions, divestitures and condition

On this page:

Scope of Services

TAS Insurance Appraisals One-Sheet.pdf

 

Scope of Services

At TAS we understand that you have a wide range of clients with differing needs. From large policies for multi-location manufacturing facilities to small policies for single retail operations, TAS provides asset services that reflect the relative risk and are cost effective no matter what the size or location of the business.

The following chart summarizes the range of services and descriptions follow. Keep in mind there are several ways to structure who bears the cost of these services:

  • paid for by the General Insurer if included as a product feature
  • paid for by the Insurance Broker as an added value for the client
  • paid for by the client as an additional fee on the policy and as a requirement for coverage
  • two or three way split between any or all of the above parties

 

Asset Services

Note:  In each case the valuation is based on Replacement Value (RV) of the asset(s) unless specified.

Service Option Pros Cons Est. Time
On-Site

Entry Level:  TAS conducts a cursory review of asset listing and photos provided by the client/broker via email or fax. Output is an estimate of RV.

 

· lowest cost option with a flat rate

· quickest turnaround

· full coverage of all markets

· requires effort from client/broker

· doesn’t verify existence of assets when info comes from client

None

Mid Level:  TAS conducts a site visit and review of actual assets and facilities. Output is a summary report and estimate of RV.

 

· verification of existence and condition of assets

· no effort required from client/broker

· additional cost

· additional time to produce report

· cost prohibitive in some markets due to travel time

Less than 1 hr. in most cases

High Level:  TAS conducts a site visit and review of actual assets and facilities. Output is an itemized listing of assets and individual RV accompanied by photo catalogue.

· critical documentation for loss recovery

· easily updated at policy renewal

· additional cost and time to conduct review and produce report.

Up to several hrs./days


Asset Verification

A client has provided you with a list of owned and leased assets that they want to insure, but you have no way of knowing if the list is complete or if the assets are in use.

TAS will attend on-site and edit/modify the client’s listing or prepare a new listing that can be maintained with annual inspections or direct communication with the client. This listing will be as detailed as required and can include model and serial numbers as well as estimated age if not specifically known.

 

Asset & Inventory Valuations

Your client needs to insure high cost or one-of-a-kind items and you need additional information to prepare the policy.

As the stakes get higher, it makes sense to get more information on file. For additional fees on top of a simple Asset Verification, TAS will view the assets and prepare an estimation of replacement value of the entire group of insured assets (Cursory Review) or broken down by individual asset (Detailed Appraisal). Whatever the scenario, TAS will provide an accurate quote for services and will split billing as required.

 

Photo Catalogue of Assets

This is valuable back-up on any policy and is recommended if there are any specialized assets.

If the client provides photos on their own behalf along with an asset listing, these can be used to provide a Desktop Opinion of Value of the assets where a site visit by the appraiser is not required. This yields significant cost savings and is practical for smaller businesses in remote locations where you can’t justify the expense of sending the appraiser on-site.

 

Additional Client Services

Via the broker, or through direct client contact, TAS is able to provide additional fee-based services to the client.

Asset Procurement & Divestment

TAS has a worldwide network of suppliers in new and used equipment. We will do the legwork to help your clients find the equipment they need. TAS will also recommend disposition tactics for used equipment and source individual buyers or arrange for sale at auction.

 

Asset Tracking

Whether or not your client uses our Asset Procurement & Divestment services, we will keep a record of changes and report them to you as required for insurance purposes.