Barn 7 Update – Insurance Claim
SVCA has received an additional $22,000 from our insurance company for shoring up Barn 7 as a result of the beetle infestation. We have now been reimbursed a total of $125,000 of the monies we have expended to research the infestation and to protect the building during the claim process.
At the January 28 meeting, the Board approved an additional $16,000 to have our entomologist send a report of his findings to the insurance company and $30,000 to prepare a “proof of loss” report. This involves developing a design to rebuild the building, including specifications, and then getting bids on that design. As soon as we have submitted these items to the insurance company, we will have completed all requirements asked of the insurance company. It is now in their hands to complete the claim process.
We are now approaching two years since the infestation was discovered. This is the original estimate of the amount of time we were told it would take to complete the process.