Louisiana State Sen. Dan “Blade” Morrish is barred from seeking the CEO’s job at Louisiana Citizens Property Insurance Corp. That ruling was reaffirmed on May 17 as the Louisiana Ethics Board upheld an earlier advisory opinion, reports the American Press …
Lawmakers in the House have rejected a proposal seeking legislative review of large rate hikes for customers of Louisiana’s property insurer of last resort. The House Insurance Committee scrapped the idea in a 9-4 vote against Senate Bill 19 by …
Large rate hikes for customers of Louisiana’s property insurer of last resort would require legislative approval, under a bill that received Senate Insurance Committee backing. St. Mary Parish Sen. Bret Allain sponsored the measure after residents of his parish who …
The governing board for Louisiana’s property insurer of last resort didn’t choose an alternate approach on April 3 to balance the company’s books after a $100 million borrowing plan stalled at the state capitol. Instead, Steve Cottrell, chief financial officer …
State officials stalled a decision on whether Louisiana’s property insurer of last resort should borrow $100 million to help close an anticipated budget gap. The Bond Commission, which includes lawmakers and statewide elected officials, didn’t take any action on the …
Louisiana Insurance Commissioner Jim Donelon said it’s premature for the state property insurer of last resort to borrow $100 million to help close a budget gap, according to a letter released March 19. Donelon’s assessment came after the board for …
Louisiana Citizens Property Insurance Corp.’s board has voted to borrow $100 million through bonds to cover a $70 million shortfall – in direct defiance of the wishes Gov. Bobby Jindal’s administration. In an email after the vote, The Advocate reports Division …
Louisiana Citizens Property Insurance Corp. CEO Richard Robertson says he plans to retire June 1. Robertson told The Advocate he will return to Michigan. He had been general manager of Michigan Basic Property Insurance Association, Michigan’s state-backed insurer, for 20 …
Nearly two-thirds of Louisiana Citizens Property Insurance Corp. (Citizens) rebates that are available to policyholders are unclaimed, according to state Insurance Commissioner Jim Donelon. Donelon and Department of Revenue (LDR) Director of Customer Service Kent LaPlace are urging property owners …
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 …
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