Bismarck, ND - Insurance Commissioner Adam Hamm said that the final payment has been sent to the Northwood School District to finalize the insurance claim made for property and contents damage caused by the August 26 tornado.
The amount of the final check was $3,466,663.89. An initial check was sent to the District to cover the initial repairs to the school, as well as an advance payment on the final amount. The total claim amount was $7,971,435.
"I am happy the Northwood School District now has the money from the claim in its own account," said Hamm. "As plans are completed to build the new school, it can invest these funds and earn even more proceeds through interest."
The payment was made through the Insurance Department's 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.