Fireman’s Fund Reports Single Deductible for Fla. Claims
The rapid succession of Hurricanes Charley, Frances, Ivan and Jeanne has reportedly prompted Fireman’s Fund Insurance Co. to allow its homeowners policyholders to treat property damage from the four storms as one event for purposes of calculating the amount of the hurricane deductible on losses.
As a result, Fireman’s Fund homeowner policyholders will reportedly benefit financially by not needing to apply multiple hurricane deductibles for those storms.
“The six-week wave of back-to-back hurricanes was a unique and unprecedented phenomenon that 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,” said Chuck Kavitsky, president and CEO of Fireman’s Fund. Although the homeowners policy in Florida clearly allows separate deductibles, “our action simplifies the issue for homeowners – customers whose home is their greatest asset and who often have limited financial reserves. We’re committed to helping these homeowners in their recovery and to provide them with peace of mind.”
The storms reportedly affected more than 2,500 Fireman’s Fund customers.
- California Chiropractor Sentenced to 54 Years for $150M Workers’ Comp Scheme
- 4,800 Claims Handled by Unlicensed Adjusters in Florida After Irma, Lawsuit Says
- Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination
- Florida’s Home Insurance Industry May Be Worse Than Anyone Realizes
- Report: Vehicle Complexity, Labor ‘Reshaping’ Auto Insurance and Collision Repair
- Mother of 8-Year-Old ‘Violently Sucked’ into Houston Hotel Pool Files Wrongful Death Suit
- CoreLogic Report Probes Evolving Severe Convective Storm Risk Landscape
- EVs Head for Junkyard as Mechanic Shortage Inflates Repair Costs