Louisiana Citizens Property Insurance Corp. (Citizens) News

Round 12: Louisiana Citizens Property Insurance Shedding More Policies

Louisiana’s property insurer of last resort has completed another round of policy depopulation — its 12th, the state insurance department announced. Louisiana Citizens Property Insurance Corp. (Citizens) offers property insurance to any home or business owner that cannot otherwise obtain …

Louisiana Citizens’ Commercial Insurance Policy Rates to Drop Next Year

A rate decrease request for commercial property policies filed by Louisiana’s property insurer of last resort has been approved by the state’s insurance commissioner. Commissioner of Insurance Jim Donelon has approved Louisiana Citizens Property Insurance Corporation’s recent request to lower …

Louisiana Citizens Property Insurance Policy Count Continues to Drop

The Louisiana Department of Insurance (LDI) estimates that the state’s property insurer of last resort has gone from the third largest property insurance company to the 35th in 10 years. The eleventh round of depopulation is underway for the Louisiana …

Gardner, Berger Appointed to Louisiana Citizens Property Insurance Commission

Louisiana Gov. John Bel Edwards has appointed Susan Denise Gardner and Eric S. Berger to serve on the Louisiana Citizens Property Insurance Commission. Gardner, of Clinton, is a certified financial examiner and market conduct manager, and the former chief deputy …

Louisiana Bill Lowers Citizens Insurance Assessment Tax Break

Legislation awaiting the signature of Louisiana’s governor would significantly lower the amount of rebate property insurance policyholders would receive for assessments to cover the debts of the state’s property insurer of last resort. House Bill 25 was passed by Louisiana …

Oklahoma Insurance Exec to Picked to Lead Louisiana Citizens Insurance

A former Oklahoma insurance executive has been chosen to head the Louisiana Citizens Property Insurance Corp., the state’s property insurer of last resort. Richard Newberry has been named the new chief executive officer. The Advocate reports state Insurance Commissioner Jim …

Louisiana Insurance Chief: Claim Citizens Rebates During Tax Season

Louisiana’s top insurance regulator says Louisiana citizens who pay property insurance in the state may be entitled to more than $200 in insurance rebates dating back to 2012. All property insurance policyholders in the state — such as renters, homeowners, …

Louisiana Citizens Property Insurance to Shed More Policies in 2016

Louisiana’s property insurer of last resort expects to shift about 10,000 policies to private insurance companies for 2016, a move that will reduce premiums by roughly $20 million. Interim Chief Executive Officer Vijay Ramachandran told The Advocate seven private companies …

10 Years After Katrina/Rita Louisiana Citizens’ Market Share at 1.8%

The market share of Louisiana’s property insurer of last resort — Louisiana Citizens Property Insurance Corp.— has declined from 9.8 percent to 1.8 percent in the 10 years after back-to-back Hurricanes Katrina and Rita devastated the state and its property …

Louisiana Citizens Insurance Depopulation Highest in Five Years

The total policy count for Louisiana Citizens Property Insurance Corp. (Citizens) is dropping below 95,000 personal and commercial policies following the latest round of the Citizens depopulation program, the Louisiana Department of Insurance announced. Insurance Commissioner Donelon said Citizens’ homeowners …