Bidwell Canyon Marina
Bidwell Marina is located on Lake Oroville, which is one of the largest lakes in California. It sustained tremendous damage from a windstorm. The marina, docks, cable systems, and boats suffered damage. Operations were shut down for several months during the re-building process, and the devastation displaced 48 large houseboats moored on the three continuous walkways at the marina. Boats damaged the mooring docks as they rocked back and forth in the intense storm.
…When confronted with a large amount of damage as a result of a storm in late fall, we turned to your company yet again based on your track record of exceptional recoveries on our behalf. We were very frustrated by our insurance company, who appeared more interested in shirking their responsibility than helping us recover from significant damages to our facilities. Not only did they offer us very little support, they attempted to get us to settle for an incredibly low amount. I am confident in saying that we could not have achieved a favorable result without your help. Your team was unwavering in its focus and determination, and I’ve no doubt that the research and work you’ve put in behind the scenes allowed us to collect the amount of money that we did. You are true professionals…
Issues
- Was the damage caused by one windstorm or two?
- Was the damage caused by one windstorm or two?
- Was the carrier’s quantification of $25,000 in damage proper?
- Were all losses covered under the policy?
- What was the best way to quantify the damage?
Solutions Applied
- The Greenspan Co./Adjusters International (Greenspan) assembled a team to best address the issues implicated in the claim. Over the course of the claim we held numerous meetings with the carrier and their consultants. We determined relatively quickly that the carrier's alleged expert marine consultant was not qualified to handle losses to marinas. The carrier eventually released its expert. The Greenspan Co./Adjusters International (Greenspan) assembled a team to best address the issues implicated in the claim. Over the course of the claim we held numerous meetings with the carrier and their consultants. We determined relatively quickly that the carrier's alleged expert marine consultant was not qualified to handle losses to marinas. The carrier eventually released its expert.
- Greenspan communicated with the Senior Vice President of Claims at the insurer regarding the policy coverages, exclusions and limitations. He got them to agree that the damage was actually caused by one occurrence and not two as suggested by the carrier. Greenspan convinced the insurance company that the reserves of $25,000 were inadequate.
- For the building quantification, Greenspan held numerous meetings with the adjuster and local contractors to agree to the methodology for measuring the damages. Greenspan got the carrier to agree to cover the costs to retain an underwater diving specialist to assess the damages to pier and mooring systems so the damages could be properly quantified. In conjunction with the underwater marine survey and physical site inspection, Greenspan was able to properly and accurately survey the extent of the damage.
- After much investigation and communication, the parties agreed to a settlement meeting at the site. The Greenspan team successfully negotiated a compromise settlement for the insured for almost $2 million; a far cry from the initial $25,000 proposed by the insured. The settlement allowed Bidwell Canyon Marina to rebuild their business without lengthy and costly litigation.