Insurance and Wine….More Fire News
Julissa McKinnon of the Napa Valley Register has been writing a series of very good stories on the fall out of the Wine Warehouse fire. Her most recent addition to the series focuses on the difficulty the insured are having collecting on their policies.
Events of this magnitude, when millions of dollars are at stake and often lost, usually lead to a change in business practices of both those who lost millions and those who are at the center of the loss. In this case I think we’ll surely see wineries looking more closely at the storage facilities in which they house their inventory (looking for sprinkler systems, for example) as well as demanding more transparency in the insurance they buy.