| Comment | Assuming the insurers pay out, assuming the building wasn't underinsured, assuming their policy didn't have a coinsurance clause...
People think an insurance claim on a total loss commercial building fire in the city centre is like their rising damp claim. It isn't; the insurer will have loss adjusters and fire risk specialists on site tomorrow morning raking through the paperwork and the ashes for a reason not to pay out.
If it was the Co-operative Memorial building, then it had at least five commercial tenants and was probably worth between £75-100k in rent to its landlord per annum. And Barclays had just opened over the road, who might well have bought it. |
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