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Businesses are paying less for property insurance

Businesses are paying less for property insurance, according to several new studies. With appropriate fixed asset management practices, companies can drive these costs down even more and improve their bottom lines. Property insurance rates dip A new report from Moody's estimated commercial property insurance rates could decrease throughout 2015 and could dip 0.5 percent this year. However, the report noted some carriers had seen rate declines of 5 to 7 percent. Without any major disasters between now and the end of the year, rates could decrease even more. The report also attributes the lower rates to increasing competition between insurance companies. Whatever the…

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Improper fixed asset management leads to confusion over land sales

Problematic fixed asset management is causing controversy in the U.K. The government planned to sell its surplus property to build new homes. The goal of the initiative was to create more housing and jobs for U.K. residents. However, the National Audit Office just released a report that questions the validity of the government's claims. Improper fixed asset management could be to blame. Selling surplus land The U.K. government promised to sell surplus fixed assets in the form of public land to enable developers to build starter homes, support job growth and decrease the deficit at the same time. The plan was…

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Governments could reduce debt with better fixed asset management

A recently published book argues that worldwide governments could be using their fixed assets more effectively. Dag Detter and Stefan Fölster, authors of the new book, "Public Wealth of Nations," wrote that if governments find a way to monetize property such as park land, they could reduce debt. According to Business Insider, global public debt amounts to roughly $54 trillion. However, collectively, governments worldwide also possess more than $75 trillion in public fixed assets. If governments managed these assets more effectively, they may be able to eliminate some of their public debt. The authors estimated that generating a monetary return…

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Fixed asset management and property forfeiture

Many companies obtain insurance for their fixed assets in the event of theft or damage, but there are other events businesses may consider. For instance, what happens when the government seizes fixed assets? Companies can secure insurance in the event the U.S. government takes hold of its property. While organizations may believe themselves to be operating fully within the law, this does not always matter. According to the Economist, no conviction is required for civil-asset forfeiture. Without hard proof of illegal activity, authorities can seize property they believe has been obtained or used unlawfully, according to the American Bar Association….

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Fixed asset management useful for intellectual property

Fixed asset management can be important for issues regarding intellectual property, such as patents and trademarks. Intellectual property is considered an intangible fixed asset. While it is not physically owned by a company, it is information that has monetary value and contributes to income tax, according to LexisNexis. It's important to include intangible assets in a fixed asset register. Keeping track of these assets is useful for taxation purposes, and there are other situations where knowing the value of intellectual property comes in handy – for instance, if a company needs to file suit for intellectual property theft. Software company Versata…

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