Louisiana Commissioner: Citizens Insurance Policy Count at New Low

Louisiana Citizens Property Insurance Corp. has its lowest number of customers since Hurricane Katrina struck Louisiana eight years ago, according to state Insurance Commissioner Jim Donelon

Louisiana Citizens now has 105,000 policies, or about 3 percent of the property insurance market, Donelon said.

That’s down from a peak of 174,000 policies in February 2008, when Citizens had a market share of nearly 10 percent. That’s also below the 111,000 policies in Citizens’ book of business the day before Katrina slammed into southeast Louisiana in 2005.

Donelon expects that to drop even further. He said the decline in Citizens’ policy count is good news because it means more and cheaper insurance options are available to residents.

Topics Louisiana