Legal Question in Insurance Law in Florida

Primary and Excess Deductible Application
I am an insurance adjuster in Florida. I have a policy that has a primary coverage of $10,000,000. There is an excess carrier for a total insured value (TIV) of $62,767,553. This is a hurricane loss with a 3% deductible. The primary insurer is trying to assess the 3% deductible based on the TIV as opposed to the primary coverage. I am wondering if they are able to do this or if the deductible would only be based on the coverage provided by the primary carrier. The difference in the claim amount is over a million dollars depending on which value the deductible is assessed.

Thanks for your help.

Craig

Asked on 2/09/06, 9:40 pm

David Slater David P. Slater, Esq.

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Re: Primary and Excess Deductible Application

The answer depends upon the wording of the policy although I would doubt the carriers interpretation is valid.

Answered on 2/09/06, 11:39 pm

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