Louisiana News

Dhandho Acquiring Louisiana’s Stonetrust Commercial Mutual Insurance

Stonetrust Commercial Mutual Insurance Holding Co. announced it has agreed to be acquired by Dhandho Holdings LP and Dhandho Holdings Qualified Purchaser LP, based in Irvine, Calif. Stonetrust is a Louisiana-based mutual insurance holding company and the parent company of …

Louisiana Parish Audit Finds Most School Bus Drivers Not Drug-Tested

An internal audit has found that the Caddo Parish school system has been testing far fewer bus drivers than it should for drugs and alcohol. Federal regulations require random testing each year of at least half the employees with a …

Louisiana Private, Non-Farm Employment at All-Time High

The Louisiana Workforce Commission says the state in June set records for both private sector and total nonfarm employment, according to seasonally adjusted employment data released by the federal Bureau of Labor Statistics. Private sector employment reached a record 1,635,600 …

Assessors in Louisiana Seek Updated Valuation Rules for Oil Wells

A group of Louisiana tax assessors is advocating for a series of property valuation changes that, if approved, could significantly increase property tax rates for oil and gas well operators, as well as revenues for local governments. The proposed rules …

Improvements to Lafourche, Louisiana Levee System Underway

The South Lafourche Levee District in Louisiana plans to finish raising the levees protecting Larose to Golden Meadow in the coming year. The district began raising the system’s levees to 16 feet in the more vulnerable southern sections and 13 …

Some in Louisiana to See Lower Fire Insurance Rates

Louisiana insurance regulators say St. Charles Parish homeowners can expect significant rate reductions in their fire insurance premiums, effective Aug. 11. Commissioner of Insurance Jim Donelon says the new rates will affect those in Fire District 8 — the Destrehan and …

Louisiana Commissioner Asks State Farm to Offer Lower Hurricane Deductible

Insurance Commissioner Jim Donelon has asked State Farm Fire and Casualty Co. (State Farm) to offer its Louisiana policyholders Louisiana the option of a 2 percent hurricane deductible on their homeowners’ insurance policies by paying the actuarially needed difference in premium, if …

Louisiana Parishes Buying Out Flood Prone Homes

Terrebonne Parish in Louisiana has a $4 million grant it’s using to buy nine storm-damaged or flood-prone homes throughout the parish. Lafourche Parish has a similar program, but only two households are participating. Officials say that this program differs from FEMA …

CPro Associates Spin-Off Concentrating on Commercial Insurance Business

Dallas-based CPro Associates has spun off its binding authority and programs unit as a new company, B&H Risk Services Inc., headed by William E. Buckley. Buckley joined CPro in late 2013 to form and develop the new business unit. B&H focuses …

Ratings of Louisiana-Based Imperial Fire and Casualty Upgraded

A.M. Best removed from under review with positive implications and upgraded the financial strength rating (FSR) to A- (Excellent) from B+ (Good) and the issuer credit rating (ICR) to “a-” from “bbb-” of Imperial Fire and Casualty Co. in Opelousas, …