Reserve at Lynnwood – Course of Construction Claim
The project managers of Reserve at Lynnwood, a senior living complex in Lynnwood, Washington, were thrown into a panic after a fire torched the building during construction. Because the Reserve is an affordable housing project, the financing is varied, and thus the costs and lost revenue of the claim were complicated to determine. In addition, the developer and the contractor couldn’t agree on the best way to process their claim.
The developer decided professional advocacy was the best course of action and they hired The Greenspan Co./Adjusters International. By deploying a proprietary system to determine how much of the construction had been completed, using in-house cost estimators, and reanalyzing the insurance policy, we were able to outline their claim clearly.
Originally, the insurance company offered a $15 million claim. In the end, we were able to settle the claim for $27 million.
Learn more about this case and how The Greenspan Co./Adjusters International provided necessary aid here.
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