Axis Accused Of Charging Unfair Hurricane Deductibles

Law360, New York (February 9, 2012, 5:08 PM EST) -- A pair of condominium associations launched a putative class action Wednesday in Florida federal court accusing Axis Surplus Insurance Co. of unlawfully enforcing an improperly disclosed percentage deductible for hurricane coverage.

In adjusting claims for damages caused by Hurricane Wilma, Axis used a hurricane deductible of 5 percent of the policy value that was separate from the standard deductible under the policy of $2,500, according to the complaint filed by Grenadier Trace Condominium Association Inc. and C&D Property Management LLC.

But the plaintiffs claim this separate...
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