Louisiana Commissioner of Insurance Jim Donelon announced that beginning Aug. 15, 2007, State Farm will resume writing new homeowners insurance policies in Louisiana’s coastal parishes on a limited basis for homeowners customers who currently live in those parishes.
State Farm will also write additional homeowners business in inland parishes.
Donelon said State Farm officials cited positive changes in Louisiana as part of the company’s decision to write more homeowners business in the state. Those changes include the statewide building code and enforcement of the code, which is important to all insurers since structural integrity in new construction is fundamentally important to a company considering writing a new risk.
The commissioner also noted that several other new companies are applying to write homeowners insurance in Lousiana.
State Farm is Louisiana’s largest homeowners insurance company, with approximately 32 percent of the market.
Source: Louisiana Department of Insurance