Mr. Gwin stated that he realized that a business interruption, especially during the Christmas season, would be crippling to the corporation in terms of lost profits and continued expenses. However, the idea of business interruption coverage was discarded as being too expensive. It was his opinion that the chances of a business interruption of the magnitude computed was so remote as to be virtually impossible. All the buildings are leased, and the Atmore and Monroeville stores have done considerable leasehold improving. The leases on all the stores are very valuable to the company, and the Fairhope building, because of its strategic location would be irreplaceable.
All leases maintain leasehold in the event of fire.
The leasor carries responsibility for fire insurance on the buildings in all cases. Insurance Program Insurance is currently carried by each store separately. The program for the Fairhope store, presented below, is typical of that existing for other stores. Crime Policy . Employee dishonesty Pilferage, theft, and misrepresentation by employees, either working alone or ill collusion with others.