The API & PVSB are systematically reviewing its standards to meet the changing and future needs of Members.

API and The New Zealand Property & Valuation Standards Board have reviewed the paper Valuations for Insurance Purposes and released an exposure draft for consultation between 2 November 2022 and 18 November 2022.

API and PVSB have reviewed the feedback and comments received during the consultation period. Based on feedback received, extensive changes have been made and the revised exposure draft paper has been drafted.

The objective of this guidance paper is to provide information, commentary, advice and recommendations to Members including Valuers providing insurance cost estimates of tangible assets, such as 'destructible improvements to real property' (destructible improvements) and 'plant, machinery and equipment' (P&E).

The PVSB are pleased to release the revised paper as an exposure draft. 

The consultation period for this paper is from Wednesday 8th February 2023 to Friday 24th February 2023.

The current (existing) version of the paper is available on our Guidance Papers page.

How To Submit Feedback

Members and stakeholders are encouraged to provide comments on the exposure draft paper by emailing no later than Friday 24th February 2023.

Any queries, please contact the standards team at