A state appeals court has blocked policyholders of Louisiana Citizens Property Insurance Corp. from collecting more than $100 million for the company’s failure to handle claims quickly enough following the 2005 hurricanes. The state 5th Circuit Court of Appeal issued …
Florida lawmakers have put taxpayers at risk by not reforming the Florida Hurricane Catastrophe Fund or Citizen’s Property Insurance Corp. in advance of the 2012 hurricane season, an insurance executive has warned. Bradley Kading, president and executive director of the …
State officials in Louisiana are calling on property owners to claim their assessment rebate charged on their insurance policies. Following Hurricanes Katrina and Rita in 2005, all property policies were charged an assessment on behalf of Citizens Property Insurance Corporation …
The plaintiffs who won a $92.8 million judgment against Louisiana Citizens Property Insurance Corp. three years ago plan to seize the company’s cash as a result of a ruling late on March 6 in a Jefferson Parish state district court. …
A bill that would allow surplus lines policies to directly assume policies from Florida’s state-run property insurer is all but dead after lawmakers tacked on an amendment that would require policyholders to sign-up for the program. The Florida Senate by …
Commissioner Jim Donelon says a decision won’t be made until next week on whether the state’s property insurer of last resort will pursue a U.S. Supreme Court appeal of a $93 million judgment against the company. Donelon said that his …
The Louisiana Supreme Court says it won’t reconsider a $92.7 million judgment against Louisiana’s state-backed insurer of last resort for handling claims too slowly after Hurricanes Katrina and Rita in 2005. Louisiana Citizens Property Insurance Corp. will ask the U.S. …
Louisiana Insurance Commissioner Jim Donelon and Department of Revenue Deputy Assistant Secretary Gary Matherne are urging those who have had a property and casualty insurance policy on their property during the last four years to claim the rebate for the …
Nearly 11,000 homeowners polices once held by Louisiana’s property insurer of last resort have been absorbed into the private insurance market, state regulators say. Louisiana Insurance Commissioner Jim Donelon announced that in a recently completed fifth annual round of depopulation …
As Insurance Journal has reported, Florida lawmakers are considering the future of the state’s largest homeowners’ insurer, Citizens Property Insurance Corp. It’s supposed to be the insurer of last resort but it’s become the first and only choice for many, …
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