Florida's chief financial officer, Tom Gallagher, announced that he had issued an emergency ruling capping public adjuster fees at 10 percent out of concern they might be subjecting Hurricane Katrina damage claimants to "price gouging."
He said that in addition to limiting fees, the rule contains other consumer protections for storm victims who may consider contracting with public adjusters==those who represent policyholders to secure a settlement with their insurers, for a fee.
Mr. Gallagher's announcement said he found a need to impose the rules in the wake of last year's experience when Hurricane Charley hit in August and there were reports of adjusters demanding fees of up to 25 percent.
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