State officials stalled a decision on whether Louisiana’s property insurer of last resort should borrow $100 million to help close an anticipated budget gap. The Bond Commission, which includes lawmakers and statewide elected officials, didn’t take any action on the …
Louisiana Insurance Commissioner Jim Donelon said it’s premature for the state property insurer of last resort to borrow $100 million to help close a budget gap, according to a letter released March 19. Donelon’s assessment came after the board for …
Louisiana Citizens Property Insurance Corp.’s board has voted to borrow $100 million through bonds to cover a $70 million shortfall – in direct defiance of the wishes Gov. Bobby Jindal’s administration. In an email after the vote, The Advocate reports …
Louisiana Citizens Property Insurance Corp. CEO Richard Robertson says he plans to retire June 1. Robertson told The Advocate he will return to Michigan. He had been general manager of Michigan Basic Property Insurance Association, Michigan’s state-backed insurer, for 20 …
Nearly two-thirds of Louisiana Citizens Property Insurance Corp. (Citizens) rebates that are available to policyholders are unclaimed, according to state Insurance Commissioner Jim Donelon. Donelon and Department of Revenue (LDR) Director of Customer Service Kent LaPlace are urging property owners …
Louisiana Citizens Property Insurance Corp. has finalized a $20 million settlement related to claims handled after hurricanes Katrina and Rita, wrapping up one of two remaining storm-related settlements that have weighed on the company. Orleans Parish Civil District Judge Kern …
Louisiana’s property insurer of last resort has proposed raising homeowner’s rates an average of 7.7 percent statewide this year. The Advocate reports the Louisiana Citizens Property Insurance Corp.’s board said that the rate increase is being driven in part by …
Louisiana’s state-run property insurer of last resort is considering ways to close its multimillion-dollar budget gap, and either option would lead to increased costs to homeowners covered by traditional insurance companies. Steve Cottrell, chief financial officer for the Louisiana Citizens …
Louisiana Insurance Commissioner Jim Donelon and Department of Revenue (LDR) Director of Customer Service Kent LaPlace are reminding property insurance policyholders that time is running out to claim a rebate for the Louisiana Citizens Property Insurance Corporation (Citizens) Assessment charged …
Louisiana Insurance Commissioner Jim Donelon announced that Louisiana Citizens Property Insurance Corp. (Citizens) has completed a sixth round of depopulation with 6,877 residential (personal lines) policies being transferred to the private insurance market With the recent depopulation efforts, Citizens policy …
