Toledo Metal Spinning Co. gained recognition for its comeback from a fire that nearly destroyed the plant, but company officials believe detailed prior planning could have eased the rebuilding process. Underprotected, the company had to eat the cost of the blaze, but from the ashes rose lessons on the importance of insurance.When Eric and Craig Fankhauser, vice presidents of Toledo Metal Spinning Co. (TMS), Toledo, OH, reviewed insurance coverage every year with their father Ken, the firm's president, they always discussed valuations, Eric recalls. In deciding on relatively low coverage, they assumed any fire could be contained to a small area because their plant was mostly brick and metal.
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