NEW VALUE
ESTIMATION
SERVICE
HELPS
KEEP YOU
COVERED
New estimator tool helps you get your
protection level right.
On 1 March 2018, Capricorn Risk Services introduced a to give business operators peace of mind.
new tool to reassure business operators their buildings “It can be difficult for Members to calculate the
are adequately protected in case disaster strikes. replacement value of a building, so we’ve invested in a
Capricorn Risk Services can now generate a completely solution that will give them an independent estimate,”
independent assessment of a building’s replacement he said.
value using a series of algorithms and historical “People sometimes forget that while they have an
construction data through an estimator tool developed aging building now, they’ll have to replace it with a
by global data analytics company CoreLogic. brand-new one. It’s not about what it’s worth now; it’s
This comes as new research shows eight in 10 Australian about the replacement value. Members are now in a
businesses do not carry enough protection to cover the better position to assess whether they are adequately
cost of replacing their premises after a major incident. protected, so they aren’t exposed if something goes
Analysis of more than 500 commercial properties using wrong.”
the estimator tool found that just 17 per cent had Being under-protected carries serious financial risks.
adequate building protection – meaning 83 per cent of Following a major incident Capricorn Members could be
Members may have left themselves financially exposed left out of pocket should the cost to remove the debris
if they needed to make a claim. and replace the building be more than the Business
Capricorn Members who protect their building with Building Limit of Protection.
Capricorn Risk Services will now receive a report Mr Glossat said Capricorn Risk Services was also looking
generated using the estimator tool with their renewal at solutions to assist Members to be adequately protected
quote if they may not be adequately protected. Even for business contents and business interruption .
if a property is not currently protected by Capricorn
Risk Services, a Member can request an independent
For more information on products available
review to ensure that they are adequately covered by through Capricorn Risk Services, call us on
using the tool. 1800 007 022 and make an appointment to
Capricorn Risk Services chief executive officer Jim speak with your Risk Account Manager or visit
Glossat said that using the estimator tool is designed capricornrisk.com.
Products sold through Capricorn Risk Services Pty Ltd (ABN 93 111 632 789) are: (i) discretionary risk
protection products issued by Capricorn Mutual Ltd; and (ii) general insurance products issued by a range of
insurers and brokered through Capricorn Insurance Services Pty Ltd. Before deciding to acquire any product
you should consider the Product Disclosure Statement available from Capricorn Risk Services Pty Ltd to see if
the product is appropriate for you. Capricorn Risk Services Pty Ltd is a Corporate Authorised Representative
RISK SERVICES
(No. 460893) of Capricorn Mutual Ltd (AFSL 230038) and Capricorn Insurance Services Pty Ltd (AFSL 435197).
CAPRICORN IGNITION APRIL 2018 17