Louisiana News

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, …

State Farm Increases Hurricane Deductible in Louisiana to 5%

One month into the hurricane season, State Farm’s 308,000 Louisiana homeowner’s customers are confronting an unpleasant change: their policies now include a mandatory 5 percent hurricane deductible. State Farm spokesman Gary Stephenson tells The Advocate the hurricane deductible was included …

Louisiana’s Calcasieu Parish to Pass School Athletic Insurance Costs to Parents

The Calcasieu Parish School Board has voted to eliminate the district’s student athletic insurance policy because of rising premium costs and budget constraints. The Calcasieu Parish School Board has voted to eliminate the district’s student athletic insurance policy because of …

Louisiana Won’t Disclose Oil Train Transport Records

Louisiana officials are refusing to disclose the details of crude oil shipments railroads haul through the state. The state Department of Public Safety and Corrections says the information freight railroads are required to provide to Louisiana is considered confidential. Louisiana …

Risk Management Privatization Saves $16M in Louisiana, Audit Shows

A new audit says Louisiana has saved nearly $16 million in the first three years of a privatization contract for the Office of Risk Management, the state’s self-insurance agency. Gov. Bobby Jindal’s administration hired Mandeville-based F.A. Richard and Associates in …

All Risks Taps Julien as California Workers’ Comp Underwriter

Danielle Julien has been hired by wholesaler All Risks Ltd. as a workers’ compensation brokerage underwriter located in San Diego, Calif. Julien will write workers’ compensation business with retail agents in California, Arizona and Nevada. Julien has eight years of …