Fire Insurance Update—July 2018

Mon, Jul 23, 2018

After an extended period of dialogue with the church’s insurers, we have reached an impasse in settling our claim for losses from the fire of September 2016. We disagree with the insurers on the value of our losses – in particular, the cost to restore Pilgrim Hall. Although the amount in dispute has been reduced since our talks began, a $5 million gap remains between the insurers’ and our figure for the total value of our losses. We do not believe there is any likelihood of agreement.

Thus, we have invoked the provision in our policy for resolving such disputes. We have called for an independent “appraisal panel” to be appointed and charged with determining the value of the church’s losses. The panel’s conclusions will be binding on both parties. The appraisal process is expected to take up to three months, so we anticipate resolving our claim by the end of October.