Kroll, a prominent global firm specializing in financial and risk advisory solutions, has announced significant strategic enhancements to its Fixed Asset Advisory Service (FAAS). The company has appointed Lorna Harrington as the managing director in the UK, to address the rising underinsurance risks within the heritage real estate sector. Additionally, Kroll is expanding its FAAS operations across the Asia Pacific (APAC) region under the leadership of newly appointed managing director Masha Lewis.
Harrington, who previously co-founded Barrett Corp and Harrington, brings a wealth of experience in insurance valuations. Her background includes roles at major insurers and brokers such as Aon, Chubb, and AIG. As rebuild costs escalate, Kroll aims to provide property owners, especially those with historic and listed buildings, with precise reinstatement cost assessments.
“Property owners often resort to indexation for valuation. However, this approach can be perilous for historic properties where specialized expertise is paramount for accurate reinstatement values,” Harrington stated. “I am thrilled to join Kroll’s esteemed FAAS practice and deliver these crucial services to our clients,” she added.
Rebecca Fuller, Kroll’s global leader of fixed asset advisory services, emphasized, “Many of the UK’s high-value complex properties demand dedicated attention. Lorna’s unique expertise in insurance markets and risk management equips us to fulfill critical needs in the heritage property sector while broadening our service offerings.”
To cater to the growing demand for asset valuations and risk management services in APAC, Kroll has expanded its FAAS operations by appointing Masha Lewis to lead the division. Previously a partner at PwC Australia, Lewis was instrumental in developing the consultancy’s asset valuation practice.
“With the evolving economic landscape and increasing infrastructure investments in Australia and the wider APAC region, regular and accurate fixed asset valuations have become vital,” commented Lewis. “High-quality, independent asset valuations are crucial for businesses to mitigate risk, ensure proper insurance coverage, support financial reporting, and make informed investment decisions.”
Rebecca Fuller noted the rising investor interest in APAC markets, stating, “This trend is expected to continue. Clients are already seeking our support in this area, making it an ideal moment to expand our valuation business.” She added, “Masha has been a pioneer in the market, and her appointment is a pivotal step in growing our market-leading fixed asset valuation practice.”
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