Bismarck, ND - North Dakota Insurance Commissioner Adam Hamm announced today that the insurance claim on the Northwood School District has been completed.
A total of $7,971,435 will be paid to the district for property damage to their school building and content by the State Fire and Tornado Fund. The Fire and Tornado Fund is a state run insurance entity housed at the North Dakota Insurance Department. It insures the building and contents of most of the State's political subdivisions.
"Situations like this can be challenging and complex," said Hamm. "This final settlement reflects a positive outcome due to the collaborative efforts put forth by the Fund and the Northwood School District."
The Fire and Tornado Fund was one of the first entities on the scene in Northwood following the August 26, 2007 tornado that devastated the community. The Fund immediately brought in multiple experts in engineering, environmental clean-up and construction to assess and mitigate further damage to the school and other publicly owned facilities.
"I am proud of the work done by all parties which will allow Northwood to move forward in their efforts to build a new school," Hamm stated.
The Northwood School District has one policy with the Fund which has two insurance limits - one limit is for its building valued at $8.3 million and a second for personal property and content valued at $1.4 million.
Hamm expects the final check to be sent to the District in the next two weeks.