Fireman's Fund spokesman John Kozero said the company took the action because the wave of storms was a "unique and unprecedented phenomenon which warranted exceptional action on behalf of customers who had little or no time between storms to participate in the traditional process of claims adjustment, property repair, protection against the elements and rebuilding."

Mr. Kozero said for business customers the company will apply separate deductibles if claims adjusters can clearly distinguish damages from the various storms.

"This approach to adjusting commercial insurance policies reflects the fact that business owners have a more sophisticated understanding of risk, and often have significant other resources, including the ability to buy business interruption insurance," he said.

Chicago-area-based Allstate, on the other hand, will continue to treat the storms as separate events.

And finally, a third group of companies that includes The Hartford and Bloomington, Ill.-based State Farm have tried to steer a middle course.

State Farm spokesman Tom Hagerty said where the company can clearly differentiate damage from separate storms, separate deductibles will apply.

"And where we can't differentiate as such it will be treated as one claim and one deductible," he said.

Hartford spokeswoman Cynthia Michener said her company was taking much the same approach.

"If damages are not distinct and the number of events is not clear, we will apply only one deductible," she said. "If damages are distinct and they arise from clearly separate events, we will apply a deductible for each claim."

Meanwhile, Florida Gov. Jeb Bush has publicly stated that he might call a special session of the state legislature after the November election to deal with a variety of hurricane-related issues, including multiple deductibles.

Any new policy would only affect future events, however.

The state's top insurance regulator, Tom Gallagher, has stated that it is fundamentally unfair for consumers to pay multiple deductibles during a hurricane season.

But any tinkering with the formula of rate increases and higher deductibles arrived at in 1996 will require overall adjustments to ensure the industry does not lose money, according to industry representatives.

As if to underscore that point, in announcing the policy of waiving multiple deductibles, Safeco president Mike LaRocco said Florida rates must be raised because the state's unusual risk cannot be spread across the country.

In other storm-related news, Hannover Re announced that losses from the Florida storms totaled more than $418 million in the third quarter. The reinsurance giant, based in Hannover, Germany, said it still expects to make a net profit of $369 million for the year.

Bermuda-based Axis Capital Holdings also announced yesterday that it estimates its net after-tax impact related to exposure to the four hurricanes will come in at between $190 million and $210 million.

Another Bermuda company, IPC Holdings, Ltd., said it expects losses of $100 million from the Florida storms.

Marietta, Ga.-based Donegal Group said that it expects third-quarter storm losses to total $3.2 million.

Harleysville Group Inc.) announced its preliminary estimate of losses from weather-related catastrophes, including the four hurricanes, totals $6.1 million pretax, or 13 cents per share after taxes, driven predominantly by claims associated with Hurricanes Ivan and Jeanne.