What will Larian's course of action in the event that a Collector's Edition is damaged?
well, I can't speak for them. I myself used Paypal as a mean of payment, so in this case, I'm covered, should I say.
Outside of PP, it's all about them willing to file a complaint to their carrier, if insurance was chosen to cover such problem, then refund you. On their side, they will get a refund from the carrier, again IF insurance was included.
I was thinking something more along the lines of a replacement. I ordered a Signed Kickstarter Collector's edition with hoodie and portrait (in game, not physical). I would hope that it would survive undamaged. But this is DHL that I'm talking about.
