FLA. GOV. PROPOSES ALTERNATIVE TO DOUBLE DEDUCTIBLES:

Florida Gov. Jeb Bush says he wants to help homeowners who were hit by more than one hurricane this year resulting in two deductibles on their insurance. A home in St. Lucie County, for example, was likely damaged by both Hurricane Frances and Hurricane Jeanne. The owners’ insurance company then would take off the deductible on the insurance twice. Bush and Chief Financial Officer Tom Gallagher want to find a way for the state to help with the second deductible, the Palm Beach Post reported. Details are incomplete, but Bush said the money for rebates could come from the Hurricane Catastrophe Fund or from the state’s General Fund. “Neither insurers nor policyholder foresaw the implications of multiple hurricanes,” Bush said. “We must take action to make certain multiple deductibles do not preclude Florida home owners from rebuilding quickly.” Florida was hit by Hurricanes Charley, Frances, Ivan and Jeanne in August and September, making 2004 the most active for hurricanes in its recorded history.