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The impact of Hurricane Delta six weeks after, and within fifteen miles of the same path of Hurricane Laura’s landfall in Southwest Louisiana, has many policyholders questioning the application of the Louisiana Homeowners’ Hurricane, Named-Storms, and Wind and Hail Deductible Law.1 We have received many calls from policyholders and public adjusters regarding various interpretations of the law, particularly, the misconception that it allows insurers to apply only one deductible in a calendar year. In recent blogs we discussed the Law and its triggers. Today we want to help Louisiana policyholders understand the legislative intent and the correct application of deductibles in the event of more than one Hurricane, Named-Storm, or Wind and Hail loss impacting their covered property in the same calendar year. Continue Reading Understanding and Applying the Louisiana Homeowners’ Hurricane, Named-Storms, and Wind & Hail Annual Deductible

In active hurricane seasons, coastal communities may face more than one named storm in a season. Named storm and hurricane deductibles are very high, sometimes as high as 5% of the insured value of the property, which amounts to thousands of dollars in a time of diminished resources. Some states have passed laws to prohibit insurers from applying these high deductibles more than once during the calendar year. After Hurricanes Katrina and Rita impacted Louisiana’s coastal communities within two weeks of each other in 2005, Louisiana passed its Annual Deductible Law. Continue Reading Louisiana’s Annual Named Storm / Hurricane Deductible Law

Louisiana’s Department of Insurance, through its Commissioner, James J. Donelon, issued an Advisory Letter No. 2018-01 on June 18, 2018, to inform all property and casualty insurers how the separate named storm deductibles or hurricane deductibles are to be interpreted and applied to claims resulting from a subtropical storm named by the National Hurricane Center of the National Weather Service. Continue Reading Insurance Department Guidance on Application of Named Storm / Hurricane Deductibles