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GALLAGHER: TRAVELERS AGREES TO PAY CONDO DEDUCTIBLES

 TALLAHASSEE, Fla., Jan. 4 /PRNewswire/ -- The Travelers Indemnity Company of Connecticut has agreed to refund approximately 1,500 disputed condominium owners' insurance deductibles as a result of Hurricane Andrew claims, State Treasurer and Insurance Commissioner Tom Gallagher announced today.
 The action stems from questions regarding whether condominium residents should have to pay two separate insurance deductibles for damage claims to both the contents of their condos and assessments for their common property. Travelers' representatives initially required the policyholders to file two separate claims and pay two separate deductibles. However, at the Insurance Department's insistence, Travelers will permit residents to file one claim, paying only one deductible for their condo and assessment claim. Travelers will issue refunds to consumers, consistent with the agreement.
 "All of the insured costs to condo unit owners from Hurricane Andrew should be subject to a single deductible," Gallagher said. "This is an excellent example of why consumers should carefully read their policies so they know their rights when a claim arises."
 Consumers with questions or concerns about their claims can call the Department's toll-free Consumer Helpline at 800-342-2762, 8 a.m. to 5 p.m., Monday through Friday.
 -0- 1/4/94
 /CONTACT: Tim Brown, information officer, Office of the Treasurer, Department of Insurance, 904-922-3108, ext. 2896/


CO: Florida Department of Insurance; The Travelers Indemnity Company ST: Florida IN: INS SU:

RK-AW -- FL011 -- 9007 01/04/94 15:47 EST
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Publication:PR Newswire
Date:Jan 4, 1994
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