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Last Post 08/24/2008 11:51 PM by  rbryanhines
TS Fay
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sbeau4014
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08/22/2008 5:13 PM
Thanks for putting it up Joe. Good language in it and is very specific that the national Hurricane center of the National Weather Service has to declare it as a hurricane. Even though they put up hurricane warnings and watches, it never was declared a hurricane. Hurricane watches and warnings are issues if conditions are favorable that a storm may form into a hurricane within x # of hours.
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sbeau4014
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08/22/2008 5:18 PM

And this is in today's Insurance Journal:

Southeast News
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Florida Insurance Regulator: Hurricane Deductible Does Not Apply

  • 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

 

http://www.insurancejournal.com/new.../92983.htm

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cowboy26995
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08/23/2008 9:24 AM

It would seem my posting was not premature.

Marc Dubois
Executive General Adjuster
M.G.D. Claim Services Inc.
"Your Commercial Claims Solution"
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HuskerCat
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08/23/2008 11:14 PM

And not inaccurate, depending on the carrier involved.  Did other carriers follow suit, and will claims reported follow suit?  Has there been a large number of losses reported yet?

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gleason1968
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08/24/2008 9:54 AM
The local news where I live (which is Longwood, Florida-Seminole County) is reporting 7000 claims have been filed throughout the state as of this morning. They did not state if these were wind, flood or both combined. Just in my area alone which covers Altamonte Springs, Maitland, Longwood, and Sanford flooding has occured along with numerous trees on dwellings. A couple of lift stations have failed as well, in numerous sub-divisions that caused sewer backup into many homes. Of course this is not even taken into consideration the damage that has occured in Brevard County which is approximately 45-50 miles south of where I live.
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rbryanhines
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08/24/2008 11:51 PM
Read an article that stated 40000 to 50000 homes had sewer back up
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