Insurance and Risk - Revaluation of Contents (2011)

It is now more than four years since departments carried out the last revaluation exercise for the purposes of contents insurance. The University's Insurers normally require this to be undertaken every three years, which would have meant the work being carried out in 2010, but due to the restructuring of the University it was agreed that this could be delayed for 12 months. However, now that we are into 2011, we have to meet the requirement of the Insurers and review the value of the sums insured by the University for its contents and stock.

In order to provide the Insurers with the required information, all areas of the University are requested to calculate the value of the contents in their particular location and to submit these to the Finance Office via a web form. As the data has to be provided by location, some Colleges/Schools/Departments, etc. may have to submit more than one form.
Once all of the details have been entered on the form, the user only has to click on the send button and the information will be automatically forwarded to the Insurance Section of the Finance Office for collation.

It is important that as accurate an estimate as possible is provided.  If no return is submitted, or the estimate is substantially lower than the value of the actual contents held (e.g. through excluding a number of high value items), then in the event of items being lost to a College/School/Department through a disaster (e.g. fire), the Insurer may not fully provide for the items lost.  Equally, estimates which are grossly inflated could result in the Insurer charging the University with a much higher premium.   
A total figure (to the nearest £100) is required for each of the categories listed on the form. Please note that, where possible, items should be valued at replacement cost and should include VAT.

A pricing guide is available to help with the valuation of some of the more standard office items.

A FAQ page on this excersise is also available.

Please select the link at the bottom of this page to proceed to the online contents valuation form. Please complete all fields and then click the ‘send’ button – this will automatically forwarded your information to the Insurance Section for consolidation.

The deadline for Colleges/Schools/Research Institutes/Departments/etc. submitting their completed form is - ** 11th November 2011 **

If anyone has any queries concerning this exercise or the completion of the form, then he/she should contact either myself (Ext. 3935; Email – Ian.Thomson@glasgow.ac.uk ) or Susan Cruikshank (Ext. 8659; Email Susan.Cruikshank@glasgow.ac.uk )

Thank you for your assistance in this matter

Ian Thomson
Insurance & Risk Manager

Link to online form