Louisiana’s “insurer of last resort” has hired an insurance industry veteran as its new CEO, and he’ll face a raft of problems when he takes over next week. J. John Wortman, who’s been in the business since the early 1960s, …
Allstate Insurance is resisting an order from Louisiana’s insurance department to reinstate 4,700 homeowner policies that the company canceled in four parishes hit by Hurricane Katrina. Louisiana Insurance Commissioner Jim Donelon said that Northbrook, Ill.-based Allstate Co. could face fines …
Eighteen months after the hurricanes, “crisis” is the term everyone uses to describe Louisiana’s insurance problems. The governor spends much of her time begging insurance companies to continue doing business in Louisiana, hoping that more competition will bring rates down. …
Louisiana’s state-run insurer won approval for big rate increases on Jan. 17, 2007, meaning double- and triple-digit hikes in insurance costs for homeowners and businesses along the coast. The increases for Citizens Property Insurance Corp. will immediately affect about 140,000 …
Of all the obscure parts of state government, the Louisiana Insurance Rating Commission is among the most ignored and misunderstood. And the panel may now be in its death throes. The commissioners ostensibly have power to limit, restrict and otherwise …
Louisiana’s state-run insurer won approval for big rate increases on Jan. 17, meaning double- and triple-digit hikes in insurance costs for homeowners and businesses along the coast. The increases for Citizens Property Insurance Corp. will immediately affect about 140,000 homeowners …
Legislators gave Louisiana Gov. Kathleen Blanco little of what she wanted in her failed legislative session, approving just two of her bills on Dec. 15: plans to rebate homeowners’ insurance fees and to use $300 million as a lure to …
Louisiana lawmakers will debate changes to state insurance laws beginning Dec. 8, but several said there’s little chance of passing major initiatives to address the problems homeowners face in finding and affording policies after last year’s hurricanes. Gov. Kathleen Blanco’s …
Louisiana regulators on Oct. 18 approved rate increases for Farmers Insurance Exchange, ensuring that prices for the company’s homeowner policies across coastal Louisiana will nearly double early next year. The Farmers rate hike was the latest in a string of …
Gov. Kathleen Blanco announced a plan to ease homeowners’ post-hurricane insurance burden by sending them state checks next year with money raised by selling off what remains of the 1998 tobacco settlement. Blanco’s plan would require approval from the Legislature, …
