A committee of the Louisiana Citizens Property Insurance Corp. board has recommended a compensation package of $264,000 annually for the insurer’s next chief executive.
The full board of the property insurer of last resort will consider hiring Richard Robertson, an insurance executive from Michigan, at its August meeting.
Insurance Commissioner Jim Donelon told the committee that Robertson has cut the number of policies at Michigan’s last insurer of resort from 240,000 to about 30,000 in the 20 years he has been there.
There are now about 128,000 Citizens policies. Robertson told the committee Monday that he would like to reduce that number, but did not specify a goal.
Information from: The Times-Picayune
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