Loss assessor Nick Balcombe is part of the team handling compulsory purchase orders (CPOs) in London's East End as the city gears up to host the 2012 Olympics.
The chairman and chief executive of the Balcombe Group said the work has strong parallels with his insurance role. "It involves valuing businesses as you would with a fire or business interruption claim. It can be sensitive work as not all want to move, but ultimately they will not have a choice."
He will focus solely on commercial CPOs and is working with law firm Finers Innocent Stephens and property agents Jones Lang LaSalle. The team was appointed by the London Development Agency.
The work is focused on the Marshgate Lane area, where the main stadium will be built, and Balcombe is dealing with over 150 businesses affected - it is expected some 300 in total will have to move.
