OIR Reminder: Hurricane Deductibles Inapplicable to Tropical Storms

The Florida Office of Insurance Regulation issued an Informational Memorandum to residential property insurers today, August 21, 2008 as a reminder that Tropical Storm Fay has not been declared a hurricane by the National Hurricane Center of the National Weather Service.  Rather, Tropical Storm Fay is currently classified as a windstorm event that is unrelated to a hurricane. 

Under Florida law, hurricane deductibles do not apply to property losses associated with a tropical storm claim.

The complete Memorandum is attached for your review.

 

Should you have any questions or comments, please do not hesitate to contact Colodny Fass.

 

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