Customer receives loss assessment from condo association regarding Hurricane Wilma damages. Assessment is submitted to insurance carrier; the date of the loss assessment is March 1, 2007. The date of the actual loss is 10/24/05, related to hurricane Wilma. The date of loss of the claim is set up at the insurance company for 3/1/07 and the policy is in effect for that time. The insurance carrier submits claim to CAT Reinsurance for money back.

The reinsurer's auditor disputes that they owe for the assessment since the date of loss was not during the policy period. Question:

Do they owe for it with a date of loss of 3-1-07 even though the loss assessment was for Wilma?

Florida Subscriber

The ISO HO 06 loss assessment coverage states, “we will pay up to $1000 for your share of loss assessment charged during the policy period against you.” The policy says nothing about the date of the loss, just the date of assessment. If the assessment is made during the policy period, the assessment should be paid from that policy.