Property Insurance
Insurance values
Purpose Purpose
Insurance values are the financial exposure values collected for each insured site and period. They help your team prepare renewals, validate coverage, compare changes, and report accurate values to brokers, insurers, and internal stakeholders.
Values are period-specific. A site can have one set of values for 2024 and another set for 2025, allowing year-over-year comparison without overwriting historical submissions.
Common value fields Common value fields
Insurance values can include:
- Buildings
- Machinery and equipment
- Lease improvements
- Furniture and fixtures
- Stock and supplies
- Business interruption
- BI period
- Your own value columns
- Total PD
- Total BI
- TIV
The exact fields can vary depending on your Insurance setup.
A period can take Business Interruption as a 12-month base value: sites enter twelve months of business interruption, and Total BI and TIV count it scaled by the site's BI period, so 200,000 at 24 months counts as 400,000. The Values table then shows the amount next to a Scaled Business Interruption column. See Business interruption base values for how to set it up.
Your own value columns Your own value columns
Next to the built-in fields, each period can ask sites for values of your own, set up under Insurance settings. Every column belongs to one of three groups, and the group decides which totals it adds to:
| Group | Adds to |
|---|---|
| Property damage | Total PD and TIV |
| Business interruption | Total BI and TIV |
| Other values | Nothing — it is collected and reported, but never part of TIV |
Use Other values for figures you want from every site without them counting as insured value, such as an estimated maximum loss. They appear on the site's values form under their own heading, count toward the site's progress like any other value, and have their own columns in the Values table and in exports.
Working with values Working with values
You can work with values from Insurance > Values or from an individual site in Insurance > Sites.
Typical workflow:
- Select the correct Insurance period.
- Open the Values table or an individual site.
- Review existing values and previous-period comparisons.
- Update values manually or use bulk import for larger changes.
- Review change history where needed.
- Export values when the data is ready for reporting.
Use Bulk import values when you need to update many sites at once from a spreadsheet.
A value with a lock note under its title is locked for the period: only insurance administrators can change it. You can still add information about it, attach files and confirm it as unchanged.
Values held at another site Values held at another site
Stock and supplies, and machinery and equipment, are not always at the site that owns them. When a site keeps goods at another site on the Insurance board, record them as an off-site value from the owning site's values page instead of including them in its own field. The amount then counts toward the TIV of the site where the goods stand, and both sites can see the arrangement.
A site's own value fields mean "physically here, owned by us". A warehouse's TIV includes what other sites keep there, and so do its Stock and supplies and Machinery and equipment columns in the Values table. The owning site's side is readable there too: the including off-site columns show a site's own Stock and supplies, Machinery and equipment and TIV plus what it keeps at other sites, leaving out what others keep at it.
Read Insured values held at another site for how to record, review and end these arrangements.
Period comparison Period comparison
Insurance > Analytics > Period comparison shows how values moved from the previous Insurance period to the selected one. It uses the same figures as the Values table, in base currency, for the sites on the Insurance board that you can access.
Each period converts every value at its own exchange rates, so a value nobody changed still moves in base currency when a rate moves. The page keeps the two apart: changes in values are measured at the previous period's exchange rates, and the currency cards show what exchange rates did.
- TIV movement is the change in total insured values across the portfolio, with the percentage change and the part of it that came from exchange rates.
- What moved TIV walks from the previous period's TIV to the selected period's: what left TIV with each value column the selected period no longer collects, the change in the other values, and what exchange rates added or took off. The axis starts above zero when that makes the changes visible; the card says where it starts.
- Sites by change sorts every site with values into five groups: values increased, values decreased, first values, unchanged and not yet reviewed for the selected period, and unchanged and reviewed. Pick a group to list its sites in the Sites table.
- Largest movements shows the sites whose values changed most, and Change by value category shows each value category summed over all sites, both leaving out exchange rates.
- One value at a time lists every value category, such as Buildings or Business Interruption, with how much it changed. Pick one to see its total in both periods, the change in the value and the part exchange rates caused, how many sites went up, down or reported it for the first time, and the sites that changed it most.
- Currency effect and Values by currency split TIV by the currency values were entered in: the sites entering each currency, the amount in that currency, its share of TIV, how far the exchange rate moved since the previous period, and how much TIV that moved.
- The Sites table lists every site with values in either period, largest change in values first, with its exchange rate effect and values review progress. Show changed, new or unchanged sites, or all of them.
Values carry over from one period to the next until someone updates them. A site nobody has touched in the new period therefore shows no change in its values, which is why the page separates unchanged sites that were reviewed from those that were not.
In a period that takes Business Interruption as a 12-month base value, the page compares what it counts toward TIV and calls it Scaled Business Interruption. Each period is counted by its own setting, so the first period with a base value shows the switch as a change in Business Interruption, even where nobody changed an amount. Switching a period that already has values explains what each figure compares.
The first Insurance period has nothing to compare with, so the page explains that instead.
Inflation Inflation
Insurance > Analytics > Inflation shows whether values kept up with prices in each site's country since the previous Insurance period. A value carried over unchanged loses ground every year prices rise, until the insured sum no longer covers what rebuilding or replacing would cost.
Prices come from public statistics: consumer prices and construction prices per country, from national statistics offices, Eurostat, the OECD, the IMF and the World Bank. How the months they are measured over are picked is explained below.
- Inflation where your sites are colours every country with sites on a heat scale, from low to high inflation. It shows the prices the value picked below is compared with; switch between consumer and construction prices yourself. Hover a country for its inflation and total insured value, and pick it to look at it more closely.
- The country bar picks the country for the cards below it and stays in view while you scroll through them, with the country's total insured value, sites, and consumer and construction price changes.
- How inflation develops shows the country's annual change in consumer and construction prices over the last years, with a band over the months the period is measured over, so you can see whether prices are speeding up or slowing down. The index the picked value is compared with is highlighted.
- Sources and disclaimer lists every price index held for the country, by publisher, with its frequency, base period and latest period, a link to the dataset, and which index is used for the period. The figures are the publishers' own, shown for reference: 21RISK does not produce or guarantee them, and the comparison is an indication, not a valuation.
- The value bar picks the value for the cards and tables below it and stays in view while you scroll through them, with the value's change, the inflation it is compared with, how far it is from it, and how many sites are below inflation.
- Values against inflation lists every value category with its change since the previous period next to the inflation it is compared with. Buildings and lease improvements are compared with construction prices, every other value with consumer prices; a country without a construction index falls back to consumer prices. Pick a value to see how far it fell short of or went beyond inflation, in percentage points and in base currency, and which countries are furthest from it.
- The by country table shows, for the picked value, each country's total insured value, what it reports of the value, its change, its consumer and construction prices (the one the value is compared with in bold), and how far it is from inflation.
- The by site table lists every site reporting the picked value: below inflation, in line with it (within one percentage point), above it, or not compared, with its values review progress.
Changes leave exchange rates out: a value is compared as entered, in the currency the site reports it in. A site reporting in another currency than its country's, such as euros in Turkey, is compared with local inflation converted to that currency at the two periods' exchange rates. New and removed values are changes in what is insured rather than in what it is worth, so they are not compared.
Each value is compared on its own. The page never adds up the gap to inflation across values: buildings follow construction prices, while stock and business interruption move with the business rather than with prices, so one value's growth would hide another's shortfall.
How the months are picked How the months are picked
- As long as the period. Inflation is measured over as many months as lie between the previous period's inception date and this one's, usually twelve.
- Ending before the period starts. The months end with the last quarter that finished before the inception date. A period that has not started yet is measured up to the newest quarter published instead, as publishers report a quarter or two after it ends.
- One index for both ends. The start lies as many months back in the same index, because publishers scale their indices to different base years. Where several publishers cover a country, the national statistics office comes first, then Eurostat, the OECD, the IMF and the World Bank.
- Quarters or years. A monthly index is averaged over each quarter. A country published only per year is measured in whole years.
- Out of date, or missing. When a country's newest figures are more than a year old, for example because a publisher stopped, they are still used, but flagged in amber wherever they appear. A country without any index is not compared, and its sites are listed as not compared.
Publishers lag differently, so the months can differ by a quarter between countries. Every figure shows the quarters it is measured over.
Change history Change history
The Insurance site's Changes tab shows Insurance values, COPE, descriptions, attachments, and confirmations. Address, name, status, tags, site groups, and custom site field updates belong to the separate Site history.
History spans all Insurance periods and is shown newest first by the time the change was made. Each entry displays its own period and the previous and current values where applicable. Filter by date, person, changed field, or Insurance period.
Portfolio queries cover sites currently on the Insurance board that you can access. Site columns and filters describe the site's current state, while change details describe the historical Insurance event.
The Changes filter uses Insurance field titles. If a configurable field has different names across periods, its filter lists the distinct names separated by /; it still selects the same field across all periods. Custom site fields are available in filters and exports.
A value recorded as standing at another site appears in the change history of both sites — on the site that owns it as value held elsewhere, and on the site it stands at as value held there for others — so either party can see the amount, what it replaced, and who entered it.