Alabama Awards MAXIMUS Asset Appraisal Contract

Maximus announced that the State of Alabama Division of Risk Management (Alabama DORM) has awarded the Company a two-year, $1.6 million contract to perform appraisals of approximately 11,000 structures covered by the State Insurance Fund (SIF).

The appraisals will be used to establish an opinion of insurable replacement cost value and will provide adequate proof-of-loss documentation and meet underwriting requirements. MAXIMUS services will include the appraisal of the individual structures and the recording of certain risk information specific to the Division of Risk Management. MAXIMUS will also convert the data and upload it to the state’s current risk management system, DORMIS.

Prior to contracting with MAXIMUS, Alabama DORM had successfully maintained a schedule that enabled them to appraise each structure every nine to ten years utilizing in-house staff. Recent natural disasters have caused a rise in construction costs and raw materials, and as a result the State recognized that it was critically important to ensure that property values were both current and accurate. MAXIMUS will assist the State in providing updated values for all structures covered by the SIF over the next three years.

"Realistic examinations of the replacement values of public structures are necessary as states seek ways to best address and improve responsiveness following the aftermath of natural disasters. Alabama should be applauded for the foresight in anticipating the potential future need for this data. MAXIMUS looks forward to this unique project and partnership," declared the CEO of MAXIMUS, Richard Montoni.