1. National Conference for Insurance Managers in Higher Education April 2008 Joseph Higgins Head of Corporate Valuations

2. AGENDA King Sturge – an Overview Our Services to Higher Education Experience

3. KING STURGE: AN OVERVIEW

4. King Sturge –Locations –Business Groups

5. UK & Ireland 27 offices 2 associations in Ireland 1451 staff

6. GROUPS

7. Plant, Machinery and Contents Rating Valuation Lease Consultancy Building Consultancy Residential Public Sector Corporate Real Estate Investment

8. SERVICES TO INSURANCE MANAGERS IN HIGHER EDUCATION

9. Services to Insurance Managers in Higher Education Services –Insurance Valuation –Buildings –Contents –Asset Management –Inventories (see example in your hand out) –Asset tracking –Reconciliations

10. Benefits of Valuation Accurate assessment of value at risk Avoid over insurance and wasted premiums Frees up management time Professional approach

11. Benefits of Asset Management Accurate recording of the assets –Labelling –Interface with maintenance –Interface with accounting records –Proof of asset in event of loss Asset reconciliation Audit trail Interface with Financial Accounting Software Packages Disposals

12. EXPERIENCE

13. Experience List of Higher Education clients in the ‘hand out’ Clients who have recently utilised our insurance valuation services: –University of Bradford –Leeds Metropolitan University –Edge Hill University –Manchester Metropolitan University

14. Common themes arising from our recent experiences………. Insurers’ requirements are changing –Individual values are required for each area –‘Blanket cover’ is now a thing of the past Not an urgent requirement Budgetary constraints

15. …………common themes arising from our recent experiences ( cont’d)………. Under- insurance is regularly found –Major problem when claims are submitted - Average Concern over methodology when you calculate values eg –Indices/ Book Values/ Ad Hoc –Treatment of third party assets –Recording of assets –Following policy requirements

16. ………….but your requirements are specific We always treat each client’s needs on a bespoke basis We recognise that therefore individual solutions will need to be provided Therefore, we provide individually – tailored quotations following a personal visit

17. SUMMARY

18. Summary King Sturge –Multi-disciplinary skills available –Geographical coverage –Large organisation –Specific services to Higher Education Services to Insurance Managers in Higher Education –Valuation expertise –Asset reconciliation –Audit, Financial and Accounting Assessments –Bespoke Requirements need bespoke solutions

19. QUESTIONS?

20. Question for you to consider How do you calculate your sums insured? –Indices? –Uplift from your predecessors figures? –Informal chats with departmental heads? –Net Book Values? –Original Costs or Gross Book Values?! –Any other suggestions?

21. Any questions for us?

22. National Conference for Insurance Managers in Higher Education April 2008 Joseph Higgins Head of Corporate Valuations