The South African Institute of Valuers, founded in 1909, is the national society of professional real estate valuers. The Institute is dedicated to serving the public interest by advancing high standards for members of the appraisal profession.
Today it has some 1550 members representing at least 60% of registered valuers in South Africa.
As the representative body of the valuation profession in Southern Africa, the Institute is in the business of promoting excellence by:
Setting and maintaining high standards of professional proficiency, ethics and education Striving to provide the appropriate educational programmes, sources of data and information Marketing and creating awareness of the benefits of the professional services of its members to existing and potential clients Monitoring and making representations on relevant legislation in the best interests of its members and their clients.
Used in reinsurance treaties to refer to the ceding company’s loss which is reinsured by the treaty. It represents the sum or sums paid by an insurance company in settlement of all losses arising out of one event. It includes any litigation or other expenses incurred in connection therewith, but excludes any charge for the services of any salaried employee of the insurer in connection with the investigation of claims less all recoveries, whether ...