Day 3, in the event of this catastrophe fire loss.... 2010-0

[jy101]

Day 3, in the event of this catastrophe fire loss.... 2010-06-17 22:21:26

Day 3, in the event of this catastrophe fire loss....

Today, it has been a busy day, we finally got to see the aftermath, half the building was completely burn down, but surprisingly, not much damage to 2 lower ground unit, except some smoke damage, even a fish tank and the fishes survived after all these....

9:00am, we meet the insurance adjuster for the building, did all the formality, hand over keys to them for their investigation. As to the insurance company, this claim has two part, each part is handle by different department, this adjuster handles the structure and business income, we inform him we may consider hiring a third party public adjuster and/or claim consulting firm in later days if we can not come to an agreement. The adjuster stayed about 2 hours, and advance a check for $10k to cover business income.

10:00am, conference call with my attorney, inform him that the adjuster oked us to refund tenants deposits, as they may need the money for locating another place to rent, my attorney fine with it, but make sure we get a forwarding address from each before hand them the checks.

12:00pm, the structure engineer arrive with the fire marshal, this engineer is hire by the insurance company to determine the origin of the fire. they stayed on site over 3 hours.

1:00pm, conference call from the second adjuster that handles the casualty and liability claims, she inform me that they had hire an attorney firm in Indianapolis to represent us on all casualty and liability issues, this firm is going to do their own engineering study with their own team outside of the insurance company.

2:00pm, conference call with the insurance company appointed attorney, summit to her all the leases and contact information for effected tenants, including the deceased victim, the firm is taking the case from here, she inform us anyone ask or wish to speak of this case, must go thru their office on liability claims.

3:00pm, we did the move in inspections with the two tenants that wish to move in other unites we own.

4:00pm, we begin to contact all the effected tenants, and cut them a check for the deposit refund.

5:00pm - 8:00pm, we visited and talk to varies tenants in this complex, let them know the situation and our future plans.

Thru out the day, we had receive 20+ calls regarding the fire, from varies sources, some new media wants interview, which we declined, more are construction companies, claim consulting firms, public adjusters, for them we ask them forward their business information, so we can consider later.

from here on, most everything is hand over to the insurance company, we already done what we can, now we can only sit and wait till the reports come out.

I am writing this blog to remind myself, and others, even though we don't want to see it happen again, but in real life, it can happen to any of us.

thanks for all the supports.....

to 槑MM's question, I do have similar clauses in my leases too, clearly state landlords are not responsible for coverage on tenant contents, injury or death, but as a huge business liability case like this one occur, many ambulance chasers (Attorneys) are not letting it go easy, and they will try to contest the lease in court, so I think insurance is the first front line.