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INSURANCE COMMISSIONER ISSUES REMINDER TO DELAWAREANS TO REVIEW THEIR PROPERTY PROTECTION AND PREPAREDNESS PLANS

 INSURANCE COMMISSIONER ISSUES REMINDER TO DELAWAREANS
 TO REVIEW THEIR PROPERTY PROTECTION AND PREPAREDNESS PLANS
 DOVER, Del., July 17 /PRNewswire/ -- Responding to national meteorological predictions for increased occurrence and severity of hurricanes during the 1992 hurricane season, Insurance Commissioner David N. Levinson today issued a reminder to Delawareans to review their property protection and preparedness plans.
 Levinson's appeal to Delawareans to take preventive steps to assure personal safety and property protection comes at the beginning of the 1992 hurricane season.
 Levinson stated that his office has been notified by the Federal Emergency Management Agency of the probable recurrence of severe storms which struck Delaware's coast last year with Hurricane Bob and other severe Northeastern storm systems. According to the Federal Insurance Administration (FIA), flood insurance claims payments totaled $120 million to victims of those storms.
 Levinson emphasized how important it is for property owners to be aware of what protection their homeowner's and commercial property insurance policies provide.
 Levinson stated that many people are not aware that a separate or additional policy is needed for damage caused by flooding and commented, "Discovering that coverage for water damage doesn't exist after the storm has passed can mean financial disaster for property owners who thought they had coverage through their homeowner's policies."
 Private and commercial property owners are advised to contact their agents or insurance companies to review their coverage and consider purchasing additional protection to suit individual needs.
 Flood insurance for property is available in Delaware through all insurance companies writing property insurance and can be purchased through agents selling property and homeowner's insurance. After an application for flood insurance is completed, there is usually a five- day waiting period before flood insurance becomes effective.
 Levinson stated that once a storm warning has been issued, insurance companies will not provide flood insurance policies or new homeowner's policies covering weather damage.
 The Delaware Insurance Department has written information available relating to hurricane preparedness, insurance implications and what to do after a weather disaster. Anyone interested in obtaining further information may contact Beverly Moyer Sisson at the Delaware Insurance Department (Kent County: 302-739-4251; Sussex and New Castle counties: 800-282-8611).
 -0- 7/17/92
 /CONTACT: David N. Levinson, Delaware Insurance commissioner, 302-577-3120/ CO: Department of Insurance ST: Delaware IN: INS SU:


MJ-MK -- PH025 -- 0332 07/17/92 15:04 EDT
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Publication:PR Newswire
Date:Jul 17, 1992
Words:385
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