Property Insurance
Insured values held at another site
Purpose Purpose
Insured values are collected per site, and a site's Total Insured Value (TIV) is the sum of what has been entered on it. But goods are not always where they are owned. A production site often keeps stock, and sometimes machinery, at warehouses elsewhere in the organization.
Insurers price property risk by physical location. The fire protection, the natural catastrophe exposure, the construction and the occupancy all belong to the building the goods are standing in. A value recorded at the owner's address is priced against the wrong building.
An off-site value is an insured value that one site owns but that is physically located at another insured site. Recording it puts the value at the right address, and makes the relationship between the two sites visible to both of them.
This is relevant for:
- Value collectors at production sites that keep goods at other sites in the organization.
- Site owners of warehouses and distribution centres that hold goods for other sites.
- Insurance managers who need a site's TIV to reflect what is actually standing there.
- Risk engineers who need to know which warehouses a production site depends on.
What can be recorded What can be recorded
An off-site value can be recorded for two value fields:
- Stock and supplies
- Machinery and equipment
The site holding the goods must be a site on the Insurance board for the period. Third-party warehouses that are not sites in 21RISK are not supported. If you need to record goods at a location that is not yet a site, create the site first and add it to the Insurance board. Read Insurance sites and access .
Buildings, lease improvements, furniture and fixtures, custom fields and business interruption are not covered. A site cannot record an off-site value against itself; use the ordinary value field instead.
Recording an off-site value Recording an off-site value
Off-site values are entered on the owning site, on the same page as its other insured values.
- Open Insurance > Sites , select the period and open the site that owns the goods.
- Open the Values tab.
- Find the Stock and supplies or Machinery and equipment field. Beneath its inputs, open the Held elsewhere section.
- Click Add site where [site name] holds Stock and supplies .
- Under Held at , pick the site where the goods are standing.
- Enter the Amount in the currency it is stated in. Each entry has its own currency, so you can record what the local warehouse contract states without converting by hand.
- Optionally add a Note describing what the goods are or which contract they fall under, and attach files.
- Click Save . Off-site values are saved together with the rest of the site's values.
Repeat for each site that holds goods for this one. A site with ten storage locations can list all ten. Each holding site appears once per field. Two batches at the same warehouse are one figure and a note, not two entries.
Each entry shows on one line with the holding site, the amount and last period's figure. Click the line to expand it and edit the details.
Tip: The site picker lists every site on the Insurance board for the period, including sites you do not have access to yourself. You need access to the owning site to save its values, but you do not need access to the holding site. A holding site you cannot open is shown by name without a link.
What the holding site sees What the holding site sees
On the site holding the goods, the same field shows a Held here for other sites section. It lists each owning site with the amount, the amount in the base currency when the currencies differ, last period's figure, and any note and attachments the owning site added.
This list is read-only on the holding site. Off-site values are recorded and changed on the owning site's values page, so recording one requires access to the owning site. A warehouse owner who also has access to the owning site can enter the value there on its behalf; otherwise, ask the owning site to record it.
How TIV is affected How TIV is affected
TIV follows the address:
- The amount counts toward the holding site's TIV and Total PD, and toward its Stock and supplies or Machinery and equipment figure wherever those are shown per site, such as the Values table.
- The amount does not count toward the owning site's TIV, Total PD or value columns.
This means each site's own value fields now mean "physically here, owned by us". Anything standing somewhere else is recorded as an off-site value instead. A production site's TIV may therefore be lower than its balance-sheet stock, and the difference is what it has recorded as held elsewhere.
The same TIV is reported everywhere: on the site's values page, in the sites overview, in the Values table and in analytics.
Before you start: Warehouse sites may already have entered the full physical stock in their own Stock and supplies, including goods that belong to other sites. The first off-site value recorded against such a site would count that stock twice. Before recording off-site values, check the warehouse's own figure and reduce it to what the warehouse itself owns. The Held here for other sites section reminds the holding site that its own figure should cover only its own goods.
The Values table The Values table
The Values table in Insurance > Values follows the same rule. Its Stock and supplies and Machinery and equipment columns show what stands at each site: the site's own figure plus what other sites keep there. A warehouse that owns no stock of its own still shows the stock other sites keep at it, and the owning site's column shows only what is on its own address. The two columns' tooltips note that they include values other sites keep at the site, and TIV is the sum of the visible value columns as usual.
The including off-site columns The including off-site columns
Three further columns show the picture from the owning site's side: Stock and supplies including off-site , Machinery and equipment including off-site and TIV including off-site . Each is what the site owns in that category, wherever the goods stand:
- the site's own figure, plus
- what the site keeps at other sites, and
- not what other sites keep at the site.
So a production site reads its whole stock exposure on one row, and a warehouse reads only its own goods. The ordinary columns answer the opposite question, "what stands at this address", and are what the insurer prices.
Example. Aarhus Plant owns 10,000,000 of stock on its own premises and keeps a further 3,000,000 at Rotterdam Distribution Centre, recorded as an off-site value. Rotterdam owns 2,000,000 of stock of its own. With no other values entered, the Values table shows:
| Site | Stock and supplies | Stock and supplies including off-site | TIV | TIV including off-site |
|---|---|---|---|---|
| Aarhus Plant | 10,000,000 | 13,000,000 | 10,000,000 | 13,000,000 |
| Rotterdam Distribution Centre | 5,000,000 | 2,000,000 | 5,000,000 | 2,000,000 |
| Total | 15,000,000 | 15,000,000 | 15,000,000 | 15,000,000 |
Rotterdam's ordinary column shows the 3,000,000 because it stands there; its including off-site column leaves it out because Aarhus owns it. Aarhus reads the reverse.
The totals agree. Every off-site value is counted exactly once in both sets of columns: the ordinary columns count it at the holding site, the including off-site columns count it at the owning site. Summed across all sites, TIV and TIV including off-site are therefore the same number, and so are the two stock columns and the two machinery columns. The two only differ per site. They stop agreeing when the table is filtered to a subset of sites, or when you do not have access to both sites of an arrangement, because then one side of a placement is in the table and the other is not. A placement whose holding site has been removed from the Insurance board is left out of both views: the holding site has no row in the table, so the owner's including off-site figure does not count it either, until the site is back on the board.
The table does not have a separate column for values held for others. To see how much of a warehouse's stock belongs to whom, open the warehouse's own values page.
Excel export carries the same column figures and the same TIV as the application, so what other sites keep at a site is included there too, but the individual arrangements are not listed. Bulk import cannot carry off-site values at all.
Periods and carrying forward Periods and carrying forward
Off-site values are scoped to a period, like all insured values, and follow the same rule for carrying forward: the value in force for a period is the latest entry at or before that period. An arrangement recorded for 2024 still applies in 2025 until someone changes it, so a stable warehouse arrangement does not need to be re-entered at every renewal. Entries that come from an earlier period are marked Carried forward .
Because of this, ending an arrangement is an action, not an omission. Leaving a warehouse out of a new period does not remove it. To end it:
- Open the owning site's values page in the period where the arrangement ends.
- In the Held elsewhere section, click the remove icon on the entry.
- The entry is shown struck through with Removed on save . You can undo the removal until you save.
- Click Save .
The previous period keeps its figure for comparison. Each entry shows Last period next to the current amount, so you can see what changed since the last renewal.
Change history Change history
Off-site values appear in the change history of both sites. On the owning site an entry reads as, for example, "recorded 1,500,000 of Stock and supplies held at Rotterdam Distribution Centre". On the holding site the same change reads as "Stock and supplies held here for Aarhus Plant". Corrections show the previous amount, and a change to only the note or attachments says so instead of implying that the amount moved.
Read more under Insurance values .
Archived sites Archived sites
When either the owning site or the holding site is set inactive, the off-site value disappears from listings and from every total. Nothing is deleted. Reactivating the site brings the value back.
Analytics Analytics
In the insurance values data available to Power BI, the goods other sites keep at a site appear as their own value types, for example "Stock and supplies held for others", alongside the site's own values. A report can split what is owned from what is held for others, and the sum of a site's rows still equals the TIV shown in 21RISK. Read Power BI overview .