Operations

SOV (Statement of Values)

Definition

A schedule of insured locations or items with values that should sum to TIV. Often conflicts with the slip and must be shown as a conflict, not averaged.

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Related Terms

Risk Assessment
TIV (Total Insured Value)

Sum of all insured property values in a portfolio or location. Used to measure exposure concentration.

Operations
Slip

The placing document that states insured, period, interest, limits, and other terms offered to the market. In London this may be an MRC.

More in Operations

Chase ListSubmission PackSlipProvenanceFacultative CertificateSource-Grounded Extraction
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