Fireman's Fund Reports Single Deductible on Katrina, Rita Claims
Fireman's Fund Insurance Company said it 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 reportedly 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 which struck Florida last year, providing 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 our homeowners policies in these areas clearly allow separate deductibles, we want to simplify the deductible issue for homeowners. We're committed to helping these homeowners in their recovery and to provide them with peace of mind."
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