Valuing Private Client Assets – like nailing jelly to a wall?

This event is free to attend and is open to CII members and non-members. Booking is required.

(Registration, Coffee, Light Breakfast 08.45am – 9.15am, Workshop 9.15am – 1.00pm).

Many customers don’t understand they are likely to be underinsured – and what that could mean for them in the event of a claim.

• They may not have had items valued
• That valuation may be out-of-date
• The valuation may not be worth the paper it is written on

This practical workshop will investigate some less obvious items that should be correctly valued and insured. It also looks at real valuations and considers why these might not be helpful in the event of a claim. It also considers the risk of fraud, and how valuations can help reduce this. The event will include case studies and engaging and fun challenges around real or fake items and higher or lower valuations.

Who is it for?

This workshop is aimed at:

• Brokers and insurers who manage accounts and insurances for Private Clients
• Brokers and insurers who may manage accounts for high-end commercial properties (restaurants, hotels, sports clubs, offices) that contain valuable assets
• Claims handlers and loss adjusters who want to understand more about how assets are valued, and how valuations can help or hinder that process
• Compliance teams considering how to ensure customers get the information they need to make informed decisions and ensure positive customer outcomes.
• Anyone who is working in the Private Client / High Net Worth / Mid Net Worth Market.

Learning Objectives

• Understanding why under-insurance is so prevalent
• “Which is the most expensive?” A deep dive into some less common asset categories and how to value them
• Jewellery: how jewellery goes into and out of fashion. Plus the difference between man-made vs earth diamonds.
• Identifying problems with real-life valuations.
• Understanding the real life impact of poor, out of date or no valuations.

Speaker Biographies

Rachel Doerr set up Doerr Dallas in 2016 to offer a completely independent valuation service for clients and brokers in the UK and Europe. She has a team of specialists that can value most assets, including specialist areas such as handbags, books, guns and wine!

Rachel regularly offers training to leading HNW insurers and brokers free-of-charge. The greater the awareness of underinsurance within the industry, and how it can be avoided, the better for everyone. Her presentations offer practical tips and techniques, with interesting and memorable examples to bring things to life, together with insight into how and why valuations are changing.

Annabell Parry from Doerr Dallas has worked with international fine jewellery and watch brands for over 20 years. She has extensive experience across many brands, including Boodles, Lee de Broomen, Rolex, Patek Phillipe and Frank Muller; her work covers certificated gemstones, high end watches, antique and handmade fine jewellery. Annabell has internationally recognised industry qualifications, and is a Registered Valuer with both valuing institutes of the UK. She particularly enjoys finding forgotten gems and uncovering their family history.

Brendan Gillooly from Mclarens has been involved in insurance claims investigation for more than 25 years, with both insurers and adjusting practices. He is a member of the Anti-Fraud Special Interest Group Council with the Chartered Institute of Loss Adjusters and holds accredited Counter Fraud Specialist status. In his personal time, he studies Forensic Psychology, Behavioural Evidence Analysis and Criminal Profiling.

Chris Nustedt from Mclarens entered the Insurance industry in 2010 and held early roles in counter fraud dealing with third party injury and property liability losses. He currently specialises in Private Clients, Fine Art & Specie, with a particular interest in high end jewellery and watches. Chris is a member of the High Net Worth and Future Focus special interest groups for the Chartered Institute of Loss Adjusters.

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