A federal appeals court has rejected Louisiana’s contention that the federal government should pay $586 million to restore barrier islands and wetlands damaged by Hurricanes Katrina and Rita in 2005. The 5th U.S. Circuit Court of Appeals upheld decisions by …
A major $200 billion loss from a combination of a cyber attack, U.S. hurricane and the failure of a reinsurer could strip insurers of up to 120 percent of their net capital base, tests of insurers in London showed. However, …
Early forecasts from meteorologists suggest the 2016 Atlantic hurricane season will be more active than normal, partly because of the expected end of the El Niño weather pattern in the next few months. Weather forecasters have linked the El Niño …
Vacant slabs, weed-choked lots and solitary stairs to nowhere permeate Cameron, a tiny town in southwest Louisiana. All that remains of the Klean-N-Kruise car wash is a rusted white sign overlooking an empty, overgrown lot. Residents travel 30 miles away …
The reinsurance market is operating in a new reality of abundant capacity from traditional and alternative sources, low interest rates and thinner reinsurance margins, driven by intense competition against shrinking demand for reinsurance cover, according to A.M. Best’s annual special …
The market share of Louisiana’s property insurer of last resort — Louisiana Citizens Property Insurance Corp.— has declined from 9.8 percent to 1.8 percent in the 10 years after back-to-back Hurricanes Katrina and Rita devastated the state and its property …
Guy Carpenter & Company released Part II of the two-part Ten-Year Retrospective of the 2004 and 2005 Atlantic Hurricane Seasons. Part II focuses on the 2005 hurricane season and the cumulative effects of both the 2004 and 2005 seasons on …
Louisiana’s property insurance market is vastly improved nine years after Hurricane Katrina devastated the state on Aug. 29, 2005, largely due to the implementation of statewide building codes and strategies that have helped create a more competitive marketplace, according to …
Louisiana Insurance Commissioner Jim Donelon is reminding property insurance policyholders that the clock is ticking on the deadline to claim a rebate for the Citizens Property Insurance Corporation (Citizens) assessment. After Dec. 31, 2013, policyholders will no longer be able …
Louisiana Citizens Property Insurance Corp. has finalized a $20 million settlement related to claims handled after hurricanes Katrina and Rita, wrapping up one of two remaining storm-related settlements that have weighed on the company. Orleans Parish Civil District Judge Kern …
