GVEDC gets insurance estimate on ice damage - Insurance News | InsuranceNewsNet

InsuranceNewsNet — Your Industry. One Source.™

Sign in
  • Subscribe
  • About
  • Advertise
  • Contact
Home Now reading Newswires
Topics
    • Advisor News
    • Annuity Index
    • Annuity News
    • Companies
    • Earnings
    • Fiduciary
    • From the Field: Expert Insights
    • Health/Employee Benefits
    • Insurance & Financial Fraud
    • INN Magazine
    • Insiders Only
    • Life Insurance News
    • Newswires
    • Property and Casualty
    • Regulation News
    • Sponsored Articles
    • Washington Wire
    • Videos
    • ———
    • About
    • Meet our Editorial Staff
    • Advertise
    • Contact
    • Newsletters
  • Exclusives
  • NewsWires
  • Magazine
  • Newsletters
Sign in or register to be an INNsider.
  • AdvisorNews
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Exclusives
  • INN Magazine
  • Insurtech
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Video
  • Washington Wire
  • Life Insurance
  • Annuities
  • Advisor
  • Health/Benefits
  • Property & Casualty
  • Insurtech
  • About
  • Advertise
  • Contact
  • Editorial Staff

Get Social

  • Facebook
  • X
  • LinkedIn
Newswires
Newswires RSS Get our newsletter
Order Prints
March 22, 2014 Newswires
Share
Share
Post
Email

GVEDC gets insurance estimate on ice damage

Brandi Underwood, The Register-Herald, Beckley, W.Va.
By Brandi Underwood, The Register-Herald, Beckley, W.Va.
McClatchy-Tribune Information Services

March 22--MAXWELTON -- It's been a tough winter for the Greenbrier Valley Economic Development Corp.

Snow and ice damage sustained at the Rahall Building in the Airport Industrial Park has already cost the GVEDC $11,559 in out-of-pocket expenses, with an insurance adjuster estimating the remaining tab will run just over $32,000, according to the development agency's executive director, Steve Weir.

That amount does not include the possible replacement of exterior walls, which the insurance adjuster said might require an inspection by a structural engineer, Weir reported to the GVEDC board of directors during a Thursday meeting.

Whatever the cost, Weir told the directors, "We really need to get this resolved."

Last month he advised the board that the damage was the result of structural defects in the roof and its drain-age system that caused melting ice and snow to leak into the GVEDC-owned building at multiple points.

The GVEDC's headquarters and a number of businesses, including Seneca Health Services, are located in the building, which is nearing 100 percent capacity.

Another result of an unusually harsh winter was a steep increase in the building's natural gas bill, Weir also reported Thursday. Gas consumption this winter was 66 percent higher than last year's, he said. That represents a monthly budget increase of around $1,000.

Predicting that next year's demand would decrease, Weir recommended the board just absorb this winter's increase for now rather than prematurely initiating renegotiations on tenants' leases to reflect the higher utility costs. The board concurred.

- -- -

Weir reported that both the Pocahontas County Board of Education and the West Virginia Division of Highways have expressed interest in possibly acquiring the GVEDC-owned Edray Building near Marlinton in Pocahontas County.

The proposal from the school board was presented to GVEDC's directors in writing, outlining plans for expansion of the county's vocational education program as well as the relocation of the school system's central office.

Weir said the state Department of Agriculture is trying to "breathe life" back into vocational agriculture programs in public schools, and that the Pocahontas County project might well serve as a model for the rest of the state.

Neither the school board nor the DOH has yet made any concrete financial proposal regarding the Edray property, Weir said.

"First person to the desk with a check gets it," he quipped.

In other Pocahontas County news, Weir said the state budget did not include funds that had been requested for the rehabilitation of downtown Marlinton following December's devastating fire that destroyed several commercial buildings.

He said all of the post-fire debris has now been cleared away, and the properties are available for construction. Any new structures erected on the lots -- all of which are located in the flood plain -- will have to be constructed at least 2 feet above flood stage, putting them 6 feet above sidewalk level.

- -- -

The GVEDC is a tri-county economic development authority established by the West Virginia Legislature to represent Greenbrier, Monroe and Pocahontas counties. It is governed by an 18-member board of directors, with six coming from each of those three counties.

The agency provides a variety of services to new and existing businesses, including financing, general and technical assistance and site selection.

For more information about the GVEDC, visit www. gvedc.com or call 304-497-4300.

-- E-mail: [email protected]

___

(c)2014 The Register-Herald (Beckley, W.Va.)

Visit The Register-Herald (Beckley, W.Va.) at www.register-herald.com

Distributed by MCT Information Services

Wordcount:  572

Older

THE SCIENCE OF NOAA’S OPERATIONAL HYDROLOGIC ENSEMBLE FORECAST SERVICE

Newer

The News-Sentinel (Fort Wayne, Ind.) Reggie Hayes column

Advisor News

  • Global economy ‘resilient’ in the wake of massive disruption
  • Cryptocurrency legislation takes one step forward with bipartisan support
  • IRS CEO FRANK J. BISIGNANO VISITS OHIO TO TOUT WORKING FAMILIES TAX CUTS PROVISIONS ON NO TAX ON CAR LOAN INTEREST, NO TAX ON OVERTIME, ENHANCED DEDUCTION FOR SENIOR CITIZENS
  • The hidden flaw in insurance AI adoption for advisors and carriers
  • Rising healthcare costs impact 401(k) accounts
More Advisor News

Annuity News

  • MetLife Expands Guaranteed Retirement Income Offering with Innovative Flexible Annuity Option
  • How annuities can help protect retirees from financial scams
  • MetLife Inc. (NYSE: MET) Climbs to New 52-Week High
  • The Standard and Pacific Guardian Life Announce Entry into Agreement to Transition Individual Annuities Business
  • AuguStar Retirement launches StarStream Variable Annuity
More Annuity News

Health/Employee Benefits News

  • Hecklers disrupt Cedar Rapids campaign rally as Ashley Hinson touts stock trading ban
  • Reed: Can these assets be saved?
  • Virginia program cuts costs of health insurance under Obamacare
  • Retirement, health insurance costs to put pressure on future Baker City budgets
  • The United States may be the best place to build universal health care (Opinion)
More Health/Employee Benefits News

Life Insurance News

  • AM Best Affirms Credit Ratings of Halyk-Life, JSC
  • AM Best Affirms Credit Ratings of Symetra Financial Corporation and Its Subsidiaries
  • AM Best Assigns Credit Ratings to Park Avenue Life Insurance Company
  • Nationwide reaches reinsurance agreement with MassMutual on UL policy block
  • Best’s Market Segment Report: AM Best Maintains Outlook on Philippines’ Non-Life Insurance Segment at Stable
More Life Insurance News

- Presented By -

NEWS INSIDE

  • Companies
  • Earnings
  • Economic News
  • INN Magazine
  • Insurtech News
  • Newswires Feed
  • Regulation News
  • Washington Wire
  • Videos

FEATURED OFFERS

Why Blend in When You Can Make a Splash?
Pacific Life’s registered index-linked annuity offers what many love about RILAs—plus more!

Life moves fast. Your BGA should, too.
Stay ahead with Modern Life's AI-powered tech and expert support.

Bring a Real FIA Case. Leave Ready to Close.
A practical working session for agents who want a clearer, repeatable sales process.

Discipline Over Headline Rates
Discover a disciplined strategy built for consistency, transparency, and long-term value.

You Could Be Losing Up to 20% of Your Commissions
GreenWave helps you find, fix, and prevent commission errors.

Press Releases

  • Rockwood Programs Appoints Kerry Ladouceur as Vice President, Financial Lines
  • JP Insurance Group Launches Commercial Property & Casualty Division; Appoints Joe Webster as Managing Director
  • Sequent Planning Recognized on USA TODAY’s Best Financial Advisory Firms 2026 List
  • Highland Capital Brokerage Acquires Premier Financial, Inc.
  • ePIC Services Company Joins wealth.com on Featured Panel at PEAK Brokerage Services’ SPARK! Event, Signaling a Shift in How Advisors Deliver Estate and Legacy Planning
More Press Releases > Add Your Press Release >

How to Write For InsuranceNewsNet

Find out how you can submit content for publishing on our website.
View Guidelines

Topics

  • Advisor News
  • Annuity Index
  • Annuity News
  • Companies
  • Earnings
  • Fiduciary
  • From the Field: Expert Insights
  • Health/Employee Benefits
  • Insurance & Financial Fraud
  • INN Magazine
  • Insiders Only
  • Life Insurance News
  • Newswires
  • Property and Casualty
  • Regulation News
  • Sponsored Articles
  • Washington Wire
  • Videos
  • ———
  • About
  • Meet our Editorial Staff
  • Advertise
  • Contact
  • Newsletters

Top Sections

  • AdvisorNews
  • Annuity News
  • Health/Employee Benefits News
  • InsuranceNewsNet Magazine
  • Life Insurance News
  • Property and Casualty News
  • Washington Wire

Our Company

  • About
  • Advertise
  • Contact
  • Meet our Editorial Staff
  • Magazine Subscription
  • Write for INN

Sign up for our FREE e-Newsletter!

Get breaking news, exclusive stories, and money- making insights straight into your inbox.

select Newsletter Options
Facebook Linkedin Twitter
© 2026 InsuranceNewsNet.com, Inc. All rights reserved.
  • Terms & Conditions
  • Privacy Policy
  • InsuranceNewsNet Magazine

Sign in with your Insider Pro Account

Not registered? Become an Insider Pro.
Insurance News | InsuranceNewsNet