The Louisiana state treasurer is holding money for more than 4,500 people who participated in a class action lawsuit against the Citizens Property Insurance Corp.
Treasurer John Kennedy says in a news release that most class action members are owed on average $1,640. He says there are 4,588 individuals who are owed money and haven’t collected.
Kennedy’s office deposited $7.7 million in settlement proceeds on May 15. Names have been uploaded into the Unclaimed Property database, which can be searched online.
The proceeds come from a class action lawsuit filed against Citizens over the handling of claims after Hurricanes Katrina and Rita. The proceeds received by the Unclaimed Property division are for class members who did not collect their payment or never cashed their checks.
Was this article valuable?
Here are more articles you may enjoy.
The Fidelis Partnership Launches US SME Casualty Reinsurance MGA 
Agent-Carrier Relationships Improving, Survey Shows 
US Cyber Insurance Market Sees Flat Premium, More Third-Party Claims Hit Loss Ratio 
PE-Backed Insurance Broker Hub International Files Confidentially for US IPO 
