RMI SETTLES $550,000.00 GAS EXPLOSION CASE: Second large loss gas explosion settlement in back to back months
RMI in back to back months has recovered by way of settlement two significant six digit gas explosion cases.
This past month the firm settled a natural gas explosion that destroyed an insured’s commercial building in Columbus, Ohio. The previous month RMI resolved a residential explosion that completely destroyed a home. On both losses, the firm was retained within twenty-four hours after the explosions.
The $550,000.00 commercial building settlement was very close to the calculated actual cash value of the loss.
Despite being on site immediately, there was “catch up” involved as the gas company had already commenced return to service repairs.
The loss involved a main gas line servicing several city blocks. Luckily, an evacuation of the insured’s building occurred minutes prior to the blast that rocked the downtown area. The blast destroyed the insured’s building and displaced multiple commercial tenants.