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BY
WARREN CLARK |
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| Phoenix
from the ashes |
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If it wasn't for the assistance of FSB Member Services, Terry Foster might not now have a business. In spite of a devastating fire at his fish restaurant, dinner is once again being served, thanks to £1.2m of insurance payouts
It's a comfort to know that, when you need them, FSB Member Services deliver. When you join the Federation, not only do you become part of a collective voice for small businesses, but you also gain access to a whole host of member benefits. Some are designed to help your business, some are designed to save you money, and some are there just in case. FSB Insurance Service fits into all three of these, as Member Terry Foster will testify.
On one of the busiest evenings of the year, at the busiest restaurant in town, disaster struck. Foster and his family from Whitby saw their life's hard work go up in flames, resulting in a £1.2m fire insurance claim. Trenchers is an extensive fish restaurant - not simply a fish-and-chip shop with a couple of fryers, but a 150-seat restaurant serving the very best in local seafood. Yet on Saturday 14 August 1999, a fire in the roof space was discovered. Unfortunately, the blaze took hold and after just a few hours, Terry and his team were looking at a very sorry sight. The family business, having taken 20 years to build, was reduced to a pile of rubble in one evening.
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On the Sunday, Terry contacted his insurer, who had been found through the brokering of FSB Insurance Service. The FSB learned of the case and lent its support from just a day later. By Monday, loss adjusters and assessors were on site checking the damage. By November, the first of a series of very large cheques was issued. Thanks to FSB Insurance Service, these cheques were regularly and promptly delivered to Terry, enabling his rebuilding works to continue and his staff to be paid. The FSB also helped to keep the insurer, the loss adjusters and loss assessors in step, to ensure as little time was wasted as possible. Terry decided to make the most of what he was left with, and used the opportunity to develop the rebuilt restaurant, complete with a number of changes that he had wanted to make anyway. Terry would now be the first to admit that without expert guidance, the task would have been a total nightmare. But after 18 months and £1.2m - a figure which includes compensation for loss of profit during the enforced closure - Trenchers opened again in April, to much acclaim from fish eaters far and wide. The restoration of Trenchers is celebrated by Tim Lazenby of Warren Hill (left) and owner Terry Foster. For the full article, see pages 18-19 of the August/September 2001 issue of First Voice
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Whilst every care has been taken in the compilation of this magazine, errors and omissions are not the responsibility of the publishers or of the editorial staff. Opinions expressed are not necessarily those of the publishers or editorial staff. All rights reserved. Unless specifically stated, goods or services mentioned are not formally endorsed by the FSB which does not guarantee or endorse or accept any liability for any goods and/or services featured in this publication. Copyright NFSE (Sales) Ltd 2001 |
