The Louisiana Citizens Property Insurance Corp. has announced that as a result of Tropical Storm Bonnie, personal lines binding restrictions are in effect for following parishes: Acadia, Assumption, Calcasieu, Cameron, Iberia, Jefferson, Jefferson Davis, Lafayette, Lafourche, Orleans, Plaquemines, St. Bernard, St. Charles, St. James, St. John the Baptist, St. Martin, St. Mary, St. Tammany, Terrebonne and Vermillion.
Binding restrictions for commercial lines have been applied to the entire state of Louisiana.
Louisiana Citizens also reported that the assessment to policies that resulted from the issuance of bonds to pay claims after Hurricanes Katrina and Rita in 2005 will be 4.0 percent beginning Jan. 1, 2011. The assessment for 2010 was 4.3 percent.
Source: Louisiana Citizens Property Insurance Corp.
Topics Louisiana
Was this article valuable?
Here are more articles you may enjoy.
Report: Auto Insurance Total Loss Frequency Climbs, More Drivers Pay Repairs 
Home Insurance Tops Property Taxes in Squeeze for US Households 
KCC Says Isaias Insured Losses to Be $3 Billion; AM Best Calls Storm an Earnings Event 
Reuters: DXC in Advanced Talks to Sell Insurance Software Unit for $2.4 Billion 
