Method for valuation of real and personal property
First Claim
1. A method for assessing differences in value distributions of real property (building/structure) coverage and personal property (contents) coverage at an insured'"'"'s site comprising:
- (a) collecting information on the amount of insurance coverage from existing insurance policies, surveys and published reports to provide a database including the size and location of the insured'"'"'s site, the nature of the business conducted at the insured'"'"'s site, the valuation of the building/structure and contents provided by the insured and/or its agent, and loss experience;
(b) using said database information to create a distribution of values for both the building/structure and contents for each occupancy;
(c) creating reference distributions for value of the building/structure and for value of the contents of an occupancy based upon assessments of similar buildings/structures and contents;
(d) comparing the value distributions generated from the customer information with reference distributions for the same occupancy in the region in which the insured'"'"'s site is located; and
, in the case of building/structure values, for buildings of a similar size and construction; and
(e) generating a report including an assessment of the deviation of the customer contents value distribution from the reference distribution.
1 Assignment
0 Petitions
Accused Products
Abstract
A method for assessing differences in value distributions of real property and personal property coverage at an insured'"'"'s site comprising collecting information on the amount of insurance coverage from various sources to provide a database and using the database information to create a distribution of values for the building and contents for each occupancy. A reference distribution is created for value of the building and contents for an occupancy based upon assessments of similar buildings and contents. The value distributions based upon the customer supplied valuation data are compared with reference distributions for the same occupancy and a report is generated which includes an assessment of the deviation of the customer contents value distribution from the reference distribution.
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Citations
16 Claims
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1. A method for assessing differences in value distributions of real property (building/structure) coverage and personal property (contents) coverage at an insured'"'"'s site comprising:
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(a) collecting information on the amount of insurance coverage from existing insurance policies, surveys and published reports to provide a database including the size and location of the insured'"'"'s site, the nature of the business conducted at the insured'"'"'s site, the valuation of the building/structure and contents provided by the insured and/or its agent, and loss experience;
(b) using said database information to create a distribution of values for both the building/structure and contents for each occupancy;
(c) creating reference distributions for value of the building/structure and for value of the contents of an occupancy based upon assessments of similar buildings/structures and contents;
(d) comparing the value distributions generated from the customer information with reference distributions for the same occupancy in the region in which the insured'"'"'s site is located; and
, in the case of building/structure values, for buildings of a similar size and construction; and
(e) generating a report including an assessment of the deviation of the customer contents value distribution from the reference distribution. - View Dependent Claims (2, 3, 4, 5, 6)
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7. A method for assessing differences in value distributions of personal property (contents) coverage at an insured'"'"'s site comprising:
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(a) collecting information on the amount of insurance coverage for said personal property from existing insurance policies, surveys and published reports to provide a database including the size and location of the insured'"'"'s site, the nature of the business conducted at the insured'"'"'s site, the valuation of the contents provided by the insured and/or its agent, and loss experience;
(b) using said database information to create a distribution of values for contents for each occupancy;
(c) creating a reference distribution for value of the contents for an occupancy based upon assessments of similar buildings/structures and contents;
(d) comparing the value distribution generated from the customer information with a reference distribution for the same occupancy in the region in which the insured'"'"'s site is located; and
,(e) generating a report including an assessment of the deviation of the customer contents value distribution from the reference distribution. - View Dependent Claims (8, 9, 10, 11)
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12. A method for assessing differences in value distributions of real property (building/structure) coverage at the insured'"'"'s site comprising:
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(a) collecting information on the amount of insurance coverage from existing insurance policies, surveys and published reports to provide a database including the size and location of the insured'"'"'s site, the nature of the business conducted at the insured'"'"'s site, the valuation of the building/structure and contents provided by the insured and/or its agent, and loss experience;
(b) using said database information in (1a) to create a distribution of values for both the building/structure;
(c) creating a reference distribution for value of the building/structure and contents for an occupancy based upon assessments of similar buildings/structures and contents;
(d) comparing the value distribution generated from the customer information with a reference distribution for the same occupancy in the region in which the insured'"'"'s site is located, and for buildings of a similar size and construction; and
(e) generating a report including an assessment of the deviation of the customer contents value distribution from the reference distribution. - View Dependent Claims (13, 14, 15, 16)
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Specification