The board governing Louisiana’s property insurer of last resort has agreed to drop rates by 10 percent across a dozen south Louisiana parishes retroactive to June 7, when the reduction was signed into law. The $16 million annual rate cut …
The nation’s highest court won’t review rulings that require Louisiana’s property insurer of last resort to pay an estimated $110 million to individuals whose claims were not timely addressed after Hurricanes Katrina and Rita. The June 25 U.S. Supreme Court …
A last-minute provision added to legislation headed to the governor’s desk will give some relief to coastal property owners who get insurance through Louisiana’s state-run insurer of last resort. The compromise language was devised by lawmakers seeking to lessen the …
Louisiana Citizens Property Insurance Corp. plans an average rate increase for wind-only policies of 58 percent, sparking an argument among top state officials on whether the increase is legal. The Advocate reports that the large increase follows a May 23 …
Louisiana’s property insurer of last resort has gotten permission to secure a $75 million cash line of credit in case a hurricane damages the state. The Louisiana Citizens Property Insurance Corp. has enough money set aside to cover a $110 …
The Louisiana Department of Insurance has approved changes to the property insurance rate levels for personal lines policies written by Louisiana Citizens Property Insurance Corp. The approved rate changes are applicable to all new business and renewal policies effective June …
Louisiana’s property insurer of last resort has asked the nation’s highest court to hear an appeal of a $104.6 million award to 18,500 policyholders who sued over slow adjustment of hurricane claims in 2005. The action by Louisiana Citizens Property …
The Louisiana Supreme Court has struck down another attempt by the state’s property insurer of last resort to avoid paying more than $100 million for late adjustment of hurricane damage claims in 2005. The April 9 ruling reversed a state …
After trying to help her homebound mother use her state refund, Barbara Ewell is convinced Louisiana’s new prepaid debit card program was set up with banks rather than people in mind. “I’ve found it incredibly complicated,” said Ewell, an English …
A nearly $103 million offer by Louisiana’s property insurer of last resort to settle claims disputes was rejected on Feb. 24 by lawyers representing the policyholders, who objected to several pieces of the proposal, including a cap on attorneys’ fees. …
