Replay: Impact of COVID-19 on Insurance and Financial Reporting Values
The impact COVID-19 has had on clients has been different for every industry and every line of business. It has influenced the value of company’s material assets, as well as the overall insurance market. As we come out of this period and enter the recovery stage, it’ll be important for companies to re-visit their financial statements and reporting, to see how they can improve their balance sheets.
In this special edition of our webinar series held on Tuesday 26th May, which is now available for replay, Luke van den Broek – National Valuation Manager New Zealand, discusses how COVID-19 may have influenced the value of your company’s assets.
The key insights from this presentation included:
- Reinstatement versus financial reporting and what the difference is
- What the main influences on values are
- The construction market and how decrease in demand could lead to short term cost decrease for new projects
- The way firms may be changing the way they engage and operate their platforms
- Currency fluctuations and international trade
- What you and your organisation should be considering when valuing your assets
- Importance of developing a robust, multi-year strategy around how your values are determined
- Review your financial reporting valuation requirements early