Update on Library Barn Insurance Claim

Since discovery of the hidden damage in the Library Barn last year, Sudden Valley has spent approx. $158,000 to stabilize the facility and conduct an insurance claim investigation.  Facility stabilization included engineering, permitting and installing emergency shoring and on-going surveillance and maintenance monitoring the safety of the facility.  We also hired an Insurance Advocate to help us understand the nature and extent of our insurance coverage and to take the lead role in working with our carrier.  To ensure thoroughness, an agreement was reached to conduct a fair, thorough and technically complete investigation in joint partnership with our carrier.

For our side of the investigation we contracted with (OAC Engineering, J2 Consultants, others) technical experts to write the plan, perform the work, conduct the analysis, and produce a report outlining the findings.  From our carriers perspective they had a legal duty to investigate.

As of this week, Sudden Valley has received $103,000 commitment for reimbursement of our Barn investigation from our insurance carrier.  We continue in discussions with our carrier on the remaining $54,000.

This money is not attached to any conditions, like signing  a release, it is a partial reimbursement of our expenses, and our carrier is not admitting or denying coverage.  The Insurance claim process continues and we will update the Association as events unfold.