Vanguard Fire & Casualty to Meet with Fla. CFO Regarding Hurricane Claims

March 3, 2005

On Thursday morning, Florida’s Chief Financial Officer Tom Gallagher held a news conference and expressed his desire to meet “eyeball-to-eyeball” with the heads of insurance companies to discuss open hurricane claims. Five insurance companies were named including Vanguard Fire & Casualty (VFC).

As of Monday, Feb. 28, VFC has received a combined total of 20,211 hurricane related claims arising from the four major 2004 storms. Every policyholder who filed a claim with VFC prior to Feb. 28 has reportedly been contacted, or contact has been attempted by a VFC claims representatives. Approximately 18,509 of the total hurricane claims reported have been closed, leaving only 1,702 open claims.

“We will not rest until every claim has been closed,” stated William Sanders, president of Vanguard Fire & Casualty. “We understand CFO Gallagher’s concerns and are eager to meet with him to discuss in detail our strategy for resolving any issues pertaining to our claims.”

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