Claims News Service, Oct. 5, 10:20 a.m. EDT -- Fireman's Fund Insurance Company will treat homeowners' property damage from Hurricanes Katrina and Rita as one event for purposes of calculating the amount of hurricane deductible on losses. As a result, Fireman's Fund homeowner policyholders who suffered damage from both storms will not need to worry about having multiple deductibles applied to their claims settlements.

"The one-two punch of Katrina and Rita is similar to the unique six-week wave of hurricanes that struck Florida last year, providing little or no time between storms to participate in the traditional process of claim adjustment, property repair, protection against the elements and rebuilding," said Chuck Kavitsky, president and CEO of Fireman's Fund. "Although our homeowners policies in these areas clearly allow separate deductibles, we want to simplify the deductible issue for homeowners.

Fireman's Fund, which was founded in 1863 with a social mission to give a portion of its profits to support firefighters, pioneered the writing of windstorm insurance in the 1880s. Fireman's Fund is a member of the Allianz Group, one of the world's largest providers of property and casualty insurance and other financial services.