Outgoing Louisiana Insurance Commissioner Jim Donelon said that two initiatives to address the state’s property insurance market are meeting expectations. Donelon provided updates to the Louisiana Incentive Program and the Louisiana Fortify Homes Program in his final week of office. …
In the aftermath of Hurricane Katrina, Louisiana lawmakers created a $29 million incentive fund to lure property insurance companies to write business in the state. The Insure Louisiana Incentive Program provided grants to five insurers, who were required to match …
A Louisiana judge ruled last week that the state’s insurance commissioner’s directive ordering insurers to pay policyholders’ Hurricane Ida evacuation expenses is invalid and unenforceable. Judge Patrick Moore of the Division of Administrative Law wrote that Louisiana Department of Insurance …
SafePoint Insurance Co. will assume 30,000 Louisiana homeowners policies from two insolvent insurers, Insurance Commissioner Jim Donelon announced Dec. 29. The 19th Judicial District Court approved terms of the takeover, which is retroactive to Dec. 1. The Louisiana Department of …
Louisiana’s property of last resort will raise commercial property insurance coverage limits for the first time in eight years. The Board of Directors of the Louisiana Citizens Property Insurance Corp. has voted to increase the amount of commercial property insurance …
Insurance companies are on track to pay at least $10.6 billion to cover Louisiana claims for damage caused by Hurricanes Laura, Delta and Zeta, according to Insurance Commissioner Jim Donelon. Donelon released the latest data on Nov. 5. The number …
Following complaints from property insurance policyholders, Louisiana’s top insurance regulator has issued a third bulletin reminding insurers of their obligations to policyholders as they work with consumers affected by the devastating 2020 hurricane season and impacted by February’s extreme winter …
A bill establishing a workers’ compensation closed drug formulary in Louisiana passed the House and has been referred to the Senate Committee on Labor and Industrial Relations. A legislative analysis of House Bill 592 by states that the law currently …
Insurance Commissioner Jim Donelon has asked the Federal Emergency Management Agency (FEMA) to further extend the filing deadline for Louisiana policyholders impacted by the August flood. FEMA’s National Flood Insurance Program (NFIP) requires homeowners to file a Proof of Loss …
Insurance Commissioner Jim Donelon reports that insurance policyholders in Louisiana were able to collect an additional $7.6 million last year as a result of assistance provided by the Louisiana Department of Insurance (LDI). LDI Office of Consumer Services worked with …
