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.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.