Florida Insurance Commissioner Kevin McCarty issued an advisory to remind Florida consumers and authorized insurers that the hurricane deductible of their homeowner’s policy does not apply at this time — because the National Hurricane Center has not upgraded Tropical Storm Fay to a hurricane.
Insurance companies must apply the deductible that is unrelated to hurricane, generally referred to as the “all other perils deductible” or “other than hurricane deductible.”
The hurricane deductible only applies when property damage results from a named hurricane. Consumers should review their policies and contact their agent if they have any questions.
McCarty sent an informational memorandum on this issue to all authorized property and casualty companies. The Florida Office of Insurance Regulation created a special link to information about hurricane deductibles on its Web site, www.floir.com.
McCarty also points out that damage caused by flooding typically is not covered by the standard homeowner’s policy. Flood insurance is purchased through the National Flood Insurance Program, he said.
Although it is too late to purchase this coverage now for damage from Tropical Storm Fay, consumers can purchase this coverage for future storms with the help of their agent or by contacting the NFIP directly. In most cases, there is a 30-day waiting period before flood insurance takes effect.
Source: Florida Office of Insurance Regulation
InsMgmt says: 
DC says: 
Pud says: 
Banks Still Face Legal Claims After $25 Billion Settlement
MF Global Judge to Examine Insurance Payments for Former Executives
Daredevil CEOs May Put Companies at Risk
California Independent Contractor Law May Be Liability for Agents, Brokers
North Carolina Continues Auto Regulation Debate As Rates Stay Same for 2012
Long-time California Lobbyist Looks to 2012 Legislation Affecting Insurance
Mine Safety Chief Seeks to End Complacency Over Safety
Virginia Court Grants Rehearing of Global Warming Claims Case
